Hindenburg US-based Short Seller Shuts Down; His Reason And Adanai Releases Details:

Adanai Releases: Today, on January 16 Depositor of shares of Adani Power has surged up to 9% reaching the number as high as Rs 599.90. As a Direct Impact Adani group stocks have risen by almost 9%. The base group Adani Green Energy has also risen up by 8.8% to Rs 1,126.80. Adani Enterprises recorded a 7.7 percent increase up to Rs 2,569,85, and Adani Total Gas' stock climbed to Rs Rs 708.45 ultimately gaining 7%. The last group company Adani Energy Solutions rose up to 6.6 % at a peak of Rs 832.00 which is a new record. Adanai Ports has also climbed up by 5.5 percent up to days mark of Rs 1,190.

Nate Anderson, founder of the company, stated the decision to Shut Down the firm has been made, The Activities would cease when the pipeline of the investigative reports in hand is completed.

Hindenburg Research garnered instant fame in India at the beginning of 2023 when they issued a report claiming Gujarati firm Adani Group is at the epicenter of “the greatest scam in the history of head honchos.” The accusations of stock manipulation led to Adani Group facing a major backlash, decreasing their market valuation. The market corrective actions were not backed through evidence, and as a result, the group was able to overturn their losses.

Aside from the accusations against the Adani group, Hindenburg Research had made claims against books Madavi Puri Buch and her partner along with Adani group.

The loss of Hindenburg Research facilitated to increase the Adani Group stock value.

Adani Wilmar saw a slight increase of 0.5 percent but Ambuja Cement’s shares made a much more enhancing climb to 542.80 from the previously held 4.5%.

According to Anderson, “I am planning to dissolve Hindenburg Research,” in a conversation with his friends he self disclosed his plans about the firm and said that the firm was wrapping up their activities involving Ponzi schemes.

Hindenburg’s Fallout with the Adani Group

In 2023, Hindenburg Research published some reports in relation to Adani Group and this led to tremendous loss for Gautam Adani. A huge part of the group’s market value got slashed but then recovered soon after the claims were made.

Why those allegations were serious, Adani and his companies have tried to contest and claim that they denied all the accusations.