Hindenburg issued a response to a show-cause notice from India’s market regulator. Both documents contain new findings on several aspects of the short-seller’s Jan 2023 report on Adani Group.
Adani Group stocks rose at an average of 7.8% Monday, while Sensex rose 3.4%. The group has recovered all losses in value since the Hindenburg report came out in January 2023.
Financial Times report says Adani Group paid extra for coal imports to benefit companies linked to its owners. Adani Group preemptively denied all allegations days before report was made public.
Adani Group had the opportunity to disprove and discredit the report. The fact that they failed to only reaffirms the veracity of Hindenburg’s findings.
Armani built a multibillion-dollar global brand from something as simple as an unstructured jacket, and broke down the walls between formal and casual.
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
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