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The market wipeout hits a whopping $100 billion, as Adani fails to calm investors
Adani Group has accused Hindenburg Capital, a US investment firm of publishing its report on the group, of attempting to conflate its rise and wealth with success of India. Hindenburg said Adani has draped itself in Indian flag while “systematically looting the nation”. “We believe India’s future is being held back by the Adani Group,”…
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The stock market crash hit $70 billion, and Adani Group was quick to blame the problem on India.
Adani Group has accused US-based Hindenburg Capital of launching “a calculated attack” on India by publishing a report alleging widespread fraud at the ports-to-power conglomerate. In a statement, the company said that Hindenburg took a short position in Adani Group shares. It further said that Adani Group shares are ” massively overvalued” and Hindenburg has…
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Adani Group says there is an attack on India by the stock market.
US-based investment firm Hindenburg released a report saying widespread fraud at the Adani Group. It accused the group of pulling off the largest con in corporate history. “Adani Group has attempted to conflate its meteoric rise…wealth of its Chairman, Gautam Adani, with the success of India itself,” the report said. Adani dismissed the report as…
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A group of people from India have a strong reaction to the stock plunge.
Adani Group has accused the US investment firm Hindenburg Research of launching “a calculated attack” on India by publishing a report that alleged widespread fraud at the group’s ports-to-power conglomerate. Hindenburg said Adani Group shares are massively overvalued and it has taken a long position on them, meaning Hindenburg wins when Adani shares fall. “This…