Hindenburg, the firm that made headlines about one and a half years ago by bringing out a sensational report against the Adani Group, one of India’s leading business groups, is in the news again. American short seller firm Hindenburg Research has announced a new disclosure in India. Since then, the market of speculations is hot.
Speculations intensified after Hindenburg’s update
Hindenburg Research shared a small update on the social media platform X at around 5:30 am on Saturday morning according to Indian time. The American firm wrote just this – India, something big is coming soon. This update became the center of discussion as soon as it was shared. By 9:30 am, this update of Hindenburg on X had received more than one and a half million views and had been reposted about four and a half thousand times.
The report on Adani came last year
After this update from Hindenburg, people are speculating who is going to be its new victim. Hindenburg Research’s name came into the news in India early last year when it released a controversial report against the business group of Gautam Adani, the richest man in India and Asia at that time. Hindenburg Research had made many sensational allegations against the Adani Group in its report, which included allegations ranging from manipulation of share prices to adopting unfair practices in business.
Adani suffered a loss of 86 billion dollars
The Adani Group was in trouble after that report came in January last year. Even after one and a half years, the Adani Group has not been able to fully compensate for the losses incurred due to the allegations made in the Hindenburg Research report. Due to the report, the prices of all the shares of the Adani Group collapsed. Many shares were hitting lower circuits almost every day for more than a month. The group had to suffer a huge loss of $ 86 billion in market capitalization at that time.
Not a single allegation has been proven so far
However, the Adani Group had completely rejected all the allegations of Hindenburg Research and called it an attack on India. Later, market regulator SEBI started investigating Hindenburg’s allegations, which was monitored by the Supreme Court. So far, not a single allegation made by Hindenburg against Adani has been proved. Due to this, many people have started believing that Hindenburg Research had deliberately targeted the Adani Group and had vested interests in it.
Users started demanding a ban on Hindenburg
Indian users are especially expressing their displeasure over the new update of the short seller firm. Some users are even demanding that the Indian government should ban Hindenburg Research’s x handle in India, because the American short seller firm only harms people by creating sensation.
something big soon india
— Hindenburg Research (@HindenburgRes) August 10, 2024
Anyway, now it remains to be seen what is going to come out of Hindenburg Research’s box and who will be next after Adani.
Also read: Adani Group faces another foreign crisis, investigation is being conducted on charges of giving bribe