India’s Adani Group vehemently objected Wednesday to allegations by short-selling firm Hindenburg Research that caused shares in its companies to plunge by as much as 8.1%.
Hindenburg issued a report late Tuesday saying it was betting against shares in companies within the Adani empire, founded by Asia’s richest man, coal magnate Gautam Adani. Businesses in the conglomerate span industries including construction, data transmission, media, renewable energy, defense manufacturing and agriculture.
