You might’ve heard about the recent stock market chaos; we know you know it’s about Adani. But here’s something we bring for you that’ll tell you what exactly is happening! Adani group witnessed a massive shock after the Hindenburg report release. Well, for Adani investors, this has not been good news at all because no one likes their investments dropping at a drastic speed.This might also be shocking for Gautam Adani, as we bet he didn’t expect a tragic start to 2023.
Well, there is something else, A PIL was filed in the Supreme court against the US-based short-selling firm Hidenberg for releasing a report that questioned the conglomerate’s debt levels and use of tax havens.Now we know that this isn’t going to end well for either of them and also, a heads up that your feed will be all about them going ahead.
You have a hint of the clash between these two giants, but do you know what Hindenburg is? And why did Adani shares dip? Let’s get to it one by one,
What is Hindenburg?
Nathan Anderson founded Hindenburg Research, a forensic financial company examining equity, credit, and derivatives. It has a history of exposing corporate misconduct and betting against corporations.
Why did Adani shares dip?
Hindenburg acknowledged its short holdings in Adani corporations through derivatives traded outside India and US-listed bonds. Along with the disclosure, it published a study alleging inappropriate use of tax havens and raising worries about debt levels.
The Adani group referred to the charges as “unsubstantiated speculations” and said the article was unfounded.
Well, that was it for today until next time.
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