The Adani Group, India’s largest conglomerate, has released a 413-page response to the allegations made by US-based short seller Hindenburg Research. The response comes after Hindenburg accused Adani of fraudulent activities and claimed that the group has obfuscated its financials with the help of Indian nationalism.
The response has done little to stop the rout in Adani shares, which have been in a bloodbath since the allegations were made. Asia’s richest man, Gautam Adani, has lost $28 billion in the past month.
The Adani Group has slammed the US short seller’s allegations, calling it an attack on India. In response to the allegations, the Indian government has also stepped in, with the Life Insurance Corporation of India (LIC) saying that it will ‘engage’ with Adani over the short seller’s allegations.
The allegations have opened a Pandora’s Box, with many questioning the integrity of the Adani Group’s financials. It remains to be seen how this situation will play out, but one thing is certain – the Adani Group will have to answer to the allegations made against it.
Discover the Latest Insights from Weitz Conservative Allocation Fund Q4 2024 Commentary – What You Need to Know Now!
Boston, Massachusetts – The Weitz Conservative Allocation Fund released its fourth-quarter 2024 commentary showcasing impressive performance in a challenging market environment. Managed by a team of experienced professionals, the fund delivered solid returns to investors despite economic uncertainties. The commentary highlighted the fund’s ability to navigate volatile market conditions and generate positive results for shareholders. With a diversified portfolio that includes a mix of equities and fixed-income securities, the Weitz Conservative Allocation Fund demonstrated resilience and adaptability throughout the quarter. In a year marked by ... Read more