Hindenburg The Hindenburg reaction did not see any visible impact on investors who invested in Adani Group shares in early trading today. Most of Adani Group’s shares are rising. Adani Power, Adani Ports, Adani Green Energy, Adani Total Gas are trading in green. Adani Energy Solutions is up around two percent. Adani Wilmar and NDTV are also growing. While, Adani Enterprises is showing weakness.
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In early trade, Adani Total Gas rose 3.38 percent to Rs. 918.10 was reached. Adani Power is trading between 717 to 718 with green mark. Adani Ports is flat and Rs. is close to 1475. Ajni Enterprises is down by half a percent to Rs. has come to 3166.60. Adani Green Energy is green and has been around since 1780. Adani Wilmar rose 1.68 percent to Rs. is trading at 338.20. Adani Energy Solutions jumped nearly two percent to Rs. 1019 has been reached. ACC rose slightly by 1.18 and Ambuja Cement. NDTV rose 1.84%.
46 page show cause notice
Indian investors have no fear after Hindenburg’s reaction to SEBI’s show cause notice. The Securities and Exchange Board of India (SEBI) has issued a 46-page show-cause notice to US-based short seller Hindenburg Research. In response, Hindenburg said he had received a show-cause notice from Sebi, which he felt was “nonsense, fabricated for a premeditated purpose. It is a conspiracy by the most powerful persons in India and an attempt to intimidate him.” Those who expose corruption and fraud.”
Hindenburg, angered by Sebi’s notice in the Adani case, also hit out at Kotak Bank
What is in the report?
Sebi’s 46-page show cause notice details Hindenburg’s relationship with an investor who took a short position in Adani. The firm also said it received $4.1 million in gross income from that investor relationship through gains related to Adani shorts and only $31,000 through short positions in Adani’s U.S. bonds. He did not disclose the name of the investor.
Adani took a hit of $150 billion
Hindenburg Research had on January 24 last year alleged that the Adani group had been involved in stock manipulation tactics and accounting fraud schemes for decades. This led to a massive sell-off in the group’s shares last year, costing them around $150 billion. SEBI has been investigating the matter since last year. The Supreme Court of India has directed the market regulator to complete its investigation by August 14 this year.