If you’ve invested in a company associated with the Adani group, you’re probably watching the stock market like a hawk. For the second day running, share prices of nine listed companies of the group have tanked, with the group losing nearly Rs 4 lakh crore in market capitalisation.
All this after US-based short seller, Hindenburg Research, accused the Adani group of pulling the “largest con in corporate history” by engaging in “brazen stock manipulation and accounting fraud” over the course of two decades. Hindenburg’s report is the result of two years of investigations comprising interviews with dozens of people, reviewing thousands of documents, and conducting diligence visits in almost half a dozen countries.
