https://sputniknews.in/20230718/hindenburg-aims-to-damage-reputation-says-gautam-adani-3059983.html
Hindenburg Aims to Damage Reputation, Says Gautam Adani
Hindenburg Aims to Damage Reputation, Says Gautam Adani
Sputnik India
Industrialist Gautam Adani on Tuesday accused the US-based short-seller Hindenburg Research of trying to malign the company's reputation with its ‘targeted misinformation and discredited allegations.’
2023-07-18T18:02+0530
2023-07-18T18:02+0530
2023-07-18T18:02+0530
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Indian industrialist Gautam Adani accused the US-based short-seller Hindenburg Research of trying to malign the company's reputation with its "targeted misinformation and discredited allegations" on Tuesday.The billionaire, while speaking at the Adani Enterprises’ annual general meeting, said that the Hindenburg short seller report was a “deliberate and malicious attempt aimed at damaging our reputation and generating profits through a short-term drive-down of our stock prices."Hindenburg accused the Adani group of stock manipulation and committing accounting fraud in January. Leading to this, Adani Enterprises shelved its key $2.5 billion share sale in February. On Tuesday, Adani Enterprises shares climbed over 4%, while Adani Transmission and Adani Green Energy rose 4.7% and 5.7%, respectively.
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Hindenburg Aims to Damage Reputation, Says Gautam Adani
Deexa Khanduri
Sputnik correspondent
At the time when Hindenburg published its report against Gautam Adani in January, the billionaire was the third-richest person in the world. In July, he slipped to 24th position.
Indian industrialist
Gautam Adani accused the US-based short-seller
Hindenburg Research of trying to malign the
company's reputation with its "targeted misinformation and discredited allegations" on Tuesday.
The billionaire, while speaking at the
Adani Enterprises’ annual general meeting, said that the Hindenburg short seller report was a “deliberate and malicious attempt aimed at damaging our reputation and generating profits through a
short-term drive-down of our stock prices."
Speaking for the first time after the Supreme Court of India gave the Adani conglomerate a clean sheet, Adani said that he "confirmed the quality of our group's disclosures and found no instance of any breach."
Hindenburg accused the Adani group of stock manipulation and committing accounting fraud in January.
Leading to this,
Adani Enterprises shelved its key $2.5 billion share sale in February.
On Tuesday, Adani Enterprises shares climbed over 4%, while Adani Transmission and Adani Green Energy rose 4.7% and 5.7%, respectively.
