Adani group's market loss swells to $65 billion in short-seller attack aftermath

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Most Adani group shares extended their sharp falls as a detailed rebuttal of a U.S. short-seller's criticisms by the Indian conglomerate failed to pacify investors whose market losses have now risen to $65 billion over three days

at the planned issue price, even as sources said bankers of the country's largest secondary share sale were considering extending the timeline beyond Jan. 31, or tweaking the price due to the fall in its share price.

On Monday, responding to Adani's rebuttal, Hindenburg said the "response largely confirmed our findings and ignored our key questions.", a school-dropout who rose swiftly in recent years to become the world's third richest man, before slipping to rank eighth on the Forbes list. It said key listed Adani companies had "substantial debt" which has put the entire group on a "precarious financial footing" and that shares in seven Adani listed companies have an 85% downside due to what it called "sky-high valuations".

 

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Adani Enterprises shares rise but other group stocks plunge after short-seller attackShares in India's Adani Enterprises rose as much as 9.5% on Monday but those of several other group companies plunged for the third straight day, extending their losses after a U.S. short-seller's report that criticised the group. If the group has been taking the fake route all these days to mint money from public then it is clear that even this increasing share price is another fact that makes HindenburgRes report true. LIC DII are pumping into it Adani enterprise have large property around the world ports and airport
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