Hindenburg Research Hits Back at Adani Group’s 413-Page Response, Says ‘Fraud Cannot Be Obfuscated by Nationalism’
New Delhi, January 30: As the Indian stock market was to open Monday, all eyes were set on stocks of Adani Group companies, a day after it released a 413-page response to allegations of wrongdoing by US short seller Hindenburg Research. Adani Group of Gautam Adani Answers All 88 Questions Raised by Hindenburg Research; Including Age of Its Auditors.
Commenting on the response Adani Group released on Sunday in response to its report, Hindenburg said it believed India was a vibrant democracy and an emerging superpower with an exciting future and it was Adani Group which was holding it back through “systematic loot”. Adani Shares Witness Mixed Trends in Early Trade; Adani Enterprises Jumps 10% Amid Hindenburg Research Allegations.
Hindenburg has rejected Adani Group’s charge that its report was an attack on India, saying a “fraud” cannot be obfuscated by nationalism or a bloated response that ignored response to key allegations.
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