Heavy selloff in Adani Group’s shares on Hindenburg’s report, group clarifies

Adani Portfolio Stocks: On Wednesday, a big decline is being seen in the shares of Adani Group. Hindenburg Research LLC of America said that the company is selling shares of Adani Group. The research firm says that Adani Group’s stocks are 85 per cent more expensive than their fair valuation. Hindenburg Research in its report has also accused the group of market manipulation and accounting fraud.

This report of Hindenburg Research has come when after two days on January 27, 2023, Rs 20000 crore FPO of Adani Enterprises is about to open. Due to the report of Hindenburg Research, a big decline is being seen in the stocks of Adani Group. Adani Ports is trading down 6.10 per cent, Adani Transmission 5.69 per cent, Adani Total Gas 4.72 per cent, Adani Power 4.75 per cent, Adani Wilmar 4.97 per cent, Adani Green Energy 3.67 per cent and Adani Enterprises 1.57 per cent. Several cement companies recently bought by the Adani group, Ambuja Cement, are trading down by 8.14 per cent and ACC by 7.11 per cent.