Reported 12 months ago
Hindenburg Research's 2023 report on the Adani Group caused a significant $153 billion market value drop, but the US short-seller only gained about $4 million from the event, as indicated in its recent statement. The report highlighted fraud allegations against Gautam Adani's business empire, criticizing India's markets regulator. Despite the fallout, Adani Group stocks rose after Hindenburg's disclosures, with Sebi's notice mentioning Kotak Mahindra Bank and Kingdon Capital Management's involvement.
Source: YAHOO