Hinderberg accused Adani of all sorts of things and Adani's response was pretty lame -
1. https://hindenburgresearch.com/adani/
2. https://www.adani.com/-/media/Project/A ... 9-2023.pdf
3. https://hindenburgresearch.com/adani-response/
There are just too many loopholes in Adani's response. Add to the fact that samdhi (his son is married to somebody's daughter) and that somebody is Cyril Shroff who is part of SEBI board. He is also part of the lawyers representing Adani, so conflict of interest on quite a number of levels.
And if you look at the response given by Adani, you would find they haven't gone into any details whatsoever.
They had got an FPO that they had to recall as the shares came down almost 40% on the index.
Moderators: richierich, ua900, PanAm_DC10, hOMSaR
Re: Adani, Hinderberg, Conflict of Interest
What do you think will happen? Adani smells like a massive tax evasion operation, but do you think the Indian authorities are going to do anything?
Re: Adani, Hinderberg, Conflict of Interest
Adani's already lost so much of his net worth, it's not funny. Of course, he's still valued much higher than 5 years ago, so there's still some room to fall perhaps?
I'm glad Hindenburg came out with the announcements when they did. At least the retail investors did not get ripped off during the FPO.
I'm glad Hindenburg came out with the announcements when they did. At least the retail investors did not get ripped off during the FPO.
Re: Adani, Hinderberg, Conflict of Interest
Nimish wrote:Adani's already lost so much of his net worth, it's not funny. Of course, he's still valued much higher than 5 years ago, so there's still some room to fall perhaps?
I'm glad Hindenburg came out with the announcements when they did. At least the retail investors did not get ripped off during the FPO.
For the FPO, the institutional investors close to Modi invested. But the stock went down so much that he had to recall the FPO and promise the investors back their money. There was a long article about 2 years back as to why Adani has little analyst coverage. And the result is for all to see -
https://www.moneycontrol.com/news/busin ... 53881.html
Re: Adani, Hinderberg, Conflict of Interest
Just so people do not misunderstand, most blue chip companies like RIL, Tatas and many others have dozens of analysts who pour over their weekly, fortnightly, monthly and quarterly production as well as earnings call to keep themselves acquainted of what's happening in those specific companies as well as how they are performing as a whole.
Just for the aviation part, both GMR and GVK (IIRC GVK has been running Singapore Airport for decades quite successfully alongwith Singapore Govt.) They threatened the duo with ED and money laundering and whatnot and gave tenders to Adani. Just to make sure it wasn't bogus they invited Indigo but didn't let them participate as there have been airlines who have also run Airports quite well. A simple search gives me this -
https://simpleflying.com/which-airlines ... -airports/
If one were to go in more detail, I am sure we would find many more. And frankly speaking, it does make logical sense, Airlines would know more about crowd-control and making sure that everybody is safe and make things under budget which will benefit them and customers.
Just for the aviation part, both GMR and GVK (IIRC GVK has been running Singapore Airport for decades quite successfully alongwith Singapore Govt.) They threatened the duo with ED and money laundering and whatnot and gave tenders to Adani. Just to make sure it wasn't bogus they invited Indigo but didn't let them participate as there have been airlines who have also run Airports quite well. A simple search gives me this -
https://simpleflying.com/which-airlines ... -airports/
If one were to go in more detail, I am sure we would find many more. And frankly speaking, it does make logical sense, Airlines would know more about crowd-control and making sure that everybody is safe and make things under budget which will benefit them and customers.
Re: Adani, Hinderberg, Conflict of Interest
I had never heard of Adani. I'm watching a youtube video explaining the issue right now, I "liked" how it says that if the only problem was using internal parties to manipulate the stock price, then it wouldn't be a story as this is common in India...