Hindenburg Research, a New York City-based firm, is a so-called 'short seller' who makes a profit by buying and selling cheap stocks he doesn't own through brokers. The report published by this company has turned the Adani Group upside down. Through this, Adani, who was second in the list of the world's richest people, was pushed to the seventh place in two days.Hindenburg alleges that the Adani Group is involved in the biggest fraud in corporate history.
The Adani Group has denied this and has described it as a completely baseless allegation. The Hindenburg Company replied, 'Adani Group did not give a correct answer. Let the suit be filed in a US court; Ready to meet' challenged.As the war of words continues between the two sides, what has happened to the Adani Group? Most notably Adani Group saw a steep fall in the share value of 7 companies.
It has fallen to around Rs.5.56 lakh crore. Adani's assets fell by Rs 1.85 lakh crore to Rs 7.84 lakh crore.
Both LIC and SBI, major players in the Indian financial market, have invested heavily in the Adani Group. LIC lost Rs 16,580 crore in two days as Adani Group shares fell. SBI also suffered substantial losses.
The Congress is criticizing this as a 'danger to the financial stability of the country'. The Communist Party of India (Marxist) has warned that it will ruin the lives of millions of customers who have their savings in both companies.
Thus, clouds of doubt surround the Adani Group. It seems Adani's timing is not right. Is the Hindenburg thesis true? Is it a lie? How true is that? The big question has taken shape before the eyes of the people of the country. At the same time, the closeness between Adani and Prime Minister Modi is also analyzed.
Neither the SEBI nor the Reserve Bank of India, which controls the stock market, have opened their mouths about this issue that is shaking the country. When do they open their mouths? What are the steps to be taken? That has become the main expectation.
What is the impact on the Adani Group? What does its future look like? Rather, whatever happened in this matter, the truth should come out. Strict action should be taken if there is fraud. If not, the doubt of the world countries on India should be removed. What steps will SEBI and RBI take? Let's wait and see!