Adani Enterprises shares rise but other group stocks plunge after short-seller attack

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.flagged concerns

about debt levels and the use of tax havens. Adani said it complies with all local laws and had made the necessary regulatory disclosures.Hindenburg, in response, said Adani's "response largely confirmed our findings and ignored our key questions." On Monday, Adani Enterprises was trading at 2,962 rupees in early trade, paring some of its initial gains, as its critical $2.5 billion secondary share sale entered its second day.

That's below the price band for the share sale - Adani has set a floor price of 3,112 rupees per share and a cap of 3,276 rupees. On Friday, the first day of the offer, the issue was subscribed 1% amid a broader fall in shares.

Dead cat bounce

Dead cat effect

Now how can adani stock rise when group companies crash? Indeed the govt institutions are forced to keep him afloat.

Adani enterprise have large property around the world ports and airport

LIC DII are pumping into it

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.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Indian shares set to rise after a rout set off by Adani stocksIndian shares are set to open higher on Monday tracking gains in global equities on hopes of the U.S. Federal Reserve easing its aggressive monetary policy stance, erasing some of the losses over the previous two sessions due to a sell off in Adani Group stocks. You're obsessed with this stock, in bed with the short sellers? Adami stocks went down because of B.B.C propaganda. All western media outlets have become propaganda outlets including Reuters. People are not willing to believe anything that your lot says anymore
Source: Reuters - 🏆 2. / 97 Read more »

Adani Group: Hindenburg report intended to create false marketIndia's Adani Group said on Sunday that a Jan. 24 report by short seller Hindenburg Research that led to a $48 billion rout in its stock was intended to create a false market to enable the short seller to book gains. Lmfao Hidenburg short sellers hai paise kama liye Ab use koi fark nai padta Western countrys ka hamaesa aisa rule raha hai every thief says they didnt so it. Adani following same route.
Source: Reuters - 🏆 2. / 97 Read more »