"There's Going To Be A Major Development In India," Says Hindenburg Research; After Adani, Who Will Be The Next To Be Affected?
On January 24 of last year, Hindenburg Research published a report sharply criticizing the Adani Group, controlled by Gautam Adani, just before the planned share sale of Adani Enterprises.
A mysterious statement on X (formerly Twitter) from US-based short seller Hindenburg Research suggests a significant disclosure about an Indian corporation. The message said, “India, something big coming soon.” This is in response to claims made by Hindenburg that the Adani Group engaged in insider trading and violated stock market regulations.
Significant Drop in Adani Group’s Share Price
Just before the anticipated share sale of Adani Enterprises, on January 24, last year, the company released a report that was very critical of the Gautam Adani-controlled Adani Group. As a result, the group’s equities saw a sharp decrease as a result of this revelation, wiping off almost $86 billion in market value.
Something big soon India
— Hindenburg Research (@HindenburgRes) August 10, 2024
Furthermore, a substantial sell-off of the group’s bonds listed overseas occurred in reaction to the accusations. But the Adani Group has always refuted every allegation contained in the Hindenburg investigation. The organization rejected the accusations as unfounded at the time of their distribution.
Hindenburg is once again shorting the Indian market and economy, but it isn’t accounting for the fact that since its last report in January 2023, our markets have not only recovered, but the SENSEX has rallied by 20,000 odd points.
— Dilip Mandal (@Profdilipmandal) August 10, 2024
Advice: No need to panic. pic.twitter.com/yztnqYA8ej
What Did SEBI Uncover in the Hindenburg-Adani Case?
In the Adani-Hindenburg case, the Securities and Exchange Board of India (SEBI) has disclosed additional information about the relationship between Mark Kingdon, the manager of an additional York hedge fund, and Hindenburg Research, an American short-seller company. Nearly two months before the report was made public on the Adani Group, Hindenburg reportedly communicated its findings with Kingdon, according to SEBI. This made it possible to trade strategically, which produced enormous profits.
The Greatest Corporate Fraud in History.
The ‘Research Agreement’ between Hindenburg and Kingdon Capital Management was announced in a 46-page show cause letter sent by SEBI to Hindenburg in May 2021. This arrangement allowed for the sharing of the report. Nearly the same report was released two months earlier in January 2023, accusing the Adani Group of committing “the biggest fraud in corporate history.” The market value of Adani’s listed firms dropped by more than $150 billion as a result of this claim.
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