Adani Portfolio Stocks: On Wednesday, a big decline is being seen in the shares of Adani Group. Hindenburg Research LLC of America said that the company is selling shares of Adani Group. The research firm says that Adani Group’s stocks are 85 per cent more expensive than their fair valuation. Hindenburg Research in its report has also accused the group of market manipulation and accounting fraud.
This report of Hindenburg Research has come when after two days on January 27, 2023, Rs 20000 crore FPO of Adani Enterprises is about to open. Due to the report of Hindenburg Research, a big decline is being seen in the stocks of Adani Group. Adani Ports is trading down 6.10 per cent, Adani Transmission 5.69 per cent, Adani Total Gas 4.72 per cent, Adani Power 4.75 per cent, Adani Wilmar 4.97 per cent, Adani Green Energy 3.67 per cent and Adani Enterprises 1.57 per cent. Several cement companies recently bought by the Adani group, Ambuja Cement, are trading down by 8.14 per cent and ACC by 7.11 per cent.
cleaning of adani group
On the report of Hindenburg Research, Group CFO of Adani Group Jugeshinder Singh said in his response that we are surprised by the published report of Hindenburg Research because they have published this report without contacting us or verifying the correct facts. The Adani Group said the report is a malicious mix of selective misinformation and stale, baseless and defamatory allegations that have been tested and rejected by the Supreme Courts of India.
The Adani group has also raised questions on the timing of the report. The Group CFO said the timing of the report’s publication is clearly aimed at tarnishing the Adani Group’s reputation as well as damaging the upcoming follow-on public offering of Adani Enterprises, India’s largest ever FPO. Is. He said that investors have always reposed their faith in Adani Group on the basis of detailed analysis and reports prepared by financial experts and leading national and international credit rating agencies.