Did Adani Group fall below Rs 46000 Crore in the stock market, what did Adani say on ‘Hindenburg Fraud’? – न्यूज़लीड India

Did Adani Group fall below Rs 46000 Crore in the stock market, what did Adani say on ‘Hindenburg Fraud’?

Did Adani Group fall below Rs 46000 Crore in the stock market, what did Adani say on ‘Hindenburg Fraud’?

There has been a loss of crores of rupees due to the huge fall in the shares of Adani Group companies. Reports of Adani Group’s shares falling below Rs 46000 Crore have come to the fore. What did Adani’s CFO say on ‘Hindenburg Fraud’? Learn


oi-Jyoti Bhaskar

Published: Wednesday, January 25, 2023, 16:33 [IST]

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  Adani Group 46000 Crore

Did Adani Group suffer a loss of Rs 46000 Crore in one stroke in the stock market? These questions because a business report claimed that after a report by Hindenburg Research, shares of Adani group companies moved into the red zone on Wednesday. Forensic financial research firm Hindenburg alleged stock manipulation and fraud in accounts, according to a Live Mint report about the business. After this, the shares of Adani Group crashed. There was an earthquake in the stock market.

Loss of thousands of crores claimed

According to reports, Adani Total Gas posted a loss of Rs 12,366 crore on Wednesday, followed by Adani Ports at Rs 8,342 crore and Adani Transmission at Rs 8,039 crore.

Did the value of seven companies fall by 85 percent?

It has been claimed that Hindenburg has released the report after two years of investigation. Forensic financial research company said, “Even if you ignore the findings of our investigation and buy Adani Group shares at face value, its seven core listed companies have declined by 85% in net terms.” According to the report, Gautam Adani, the founder and chairman of the Adani Group, has a net worth of around $120 billion. The Group’s share prices have seen an unprecedented jump. The seven most important publicly traded companies have gained an average of 819 percent.

What did Adani Group say on the allegations of ‘Fraud’?

Adani Group’s Chief Financial Officer (CFO) Jugeshinder Singh issued a statement after the news of earthquake in the stock market. CFO said, Adani Group is shocked that Hindenburg Research published a report yesterday without making any effort to contact us or verify the factual matrix. According to the CFO, the report is a malicious combination of selective misinformation, baseless and slanderous allegations, which have been tested and debunked by the Supreme Court of India.

  Adani Group 46000 Crore

Intent to harm India’s largest FPO

The CFO of Adani Group said that the timing of the publication of the Hindenburg Report clearly shows that the report has been brought out with the intention of tarnishing the reputation of the Adani Group. Its purpose is to harm the upcoming FPO (Follow-on Public Offering) of Adani Enterprises. This is the biggest FPO ever in India.

Adani Group 46000 Crore

Adani Group follows all the laws

According to CFO Jugeshinder Singh, the investor community has always reposed faith in Adani Group based on detailed analysis and reports prepared by financial experts and leading national and international credit rating agencies. Our investors do not lack information and stock market pundits are not swayed by vested interests and baseless reports. He clarified that the Adani Group has always been compliant with all laws, regardless of jurisdiction and maintains the highest standards of corporate governance.

Adani’s companies surrounded by allegations of scams

Prior to the CFO’s statement, a Livemint report on the Hindenburg fraud said that the Adani group is reportedly facing four significant government fraud probes. The alleged fraud of US$17 billion includes allegations of money laundering, evasion of tax dollars and corruption. The report said members of the Adani family allegedly collaborated in creating offshore shell companies in tax-haven jurisdictions such as Mauritius, the United Arab Emirates and the Caribbean islands. Fake import/export documents were prepared in a clear attempt to generate bogus or illegal business and extort money from listed companies.

The shares of which companies of Adani fell!

Hindenburg claims that several people, including former senior executives of the Adani Group, were interviewed for the research. Thousands of documents were examined, and site visits were made in nearly a dozen different countries. According to Livemind news, shares of Adani Total Gas, Adani Enterprises, Adani Transmission, Adani Green Energy, Adani Ports and Special Economic Zone, Adani Power and Adani Wilmar fell 1-4 per cent in Wednesday’s trade after this alleged fraud report. were doing business with. Talking about overall losses, seven stocks of Adani Group registered a decline of ₹46,086 crore in market cap on Wednesday.

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english summary

Adani group 46000 crore Hindenburg alleges fraud Gautam Adani CFO Jugeshinder Singh

Story first published: Wednesday, January 25, 2023, 16:33 [IST]

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