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.