Hindenburg to come out with one more report, details not given

Hindenburg Research, which has taken on Adani group corporations in its Jan 24 report, stated it can quickly launch a brand new report on one other goal. The US brief vendor stated in a tweet just a few hours in the past with out giving additional details.

The agency run by Nate Anderson gained more prominence this yr after its scathing report on billionaire Gautam Adani’s group wiped out more than $150 billion from the Indian conglomerate’s market worth in about 5 weeks since publication on Jan. 24.

The newest tweet by the New York-based analysis agency did not present any specifics on the timing of the following report’s launch, or what it intends to say. Hindenburg says it is not a hedge fund, and it prefers to be referred to as a forensic analysis outfit that operates with its personal capital.

Hindenburg Research report on the Adani Group led to a wipe-out of billions of {dollars} of buyers cash, and all eyes are on its upcoming subsequent report. “New report quickly — one other large one,” stated Hindenburg in its tweet.

Adani Group shares’ fall

All the listed corporations of Adani Group can roughly be divided into two eras — the steep rise earlier than Hindenburg’s explosive report got here out and the sudden fall following it.

Before January 14, 2023 the group’s market capitalisation stood at over Rs 19 lakh crore. Its shares have been hitting via the roof with a Rs 20,000 crore fully-subscribed FPO on the anvil.

Stupendous success invariably brings alongside hypothesis and scrutiny. Just a month later, the Adani group’s market capitalisation is down to lower than Rs 7.3 lakh crore. The worth of 10 listed corporations of the group has plunged over Rs 12 lakh crore or $145 billion to $150 billion.

There are only a few parallels to this stage of decline in market capitalisation. As for the billionaire Gautam Adani, his web price has fallen from $120 billion to round $41 billion.