Adani stocks found buyers in India’s retail investors during Hindenburg row
India’s retail investors piled into Adani Group companies as their shares cratered in the wake of the Hindenburg Research’s scathing report last January. A year later, they’re still keeping the faith.
Individual holdings in nine of the group’s 10 stocks at the end of December are higher than they were before the short-seller’s attack on the conglomerate, exchange data compiled by Bloomberg show.
The group’s market value has increased by more than $60 billion since late November, and is just $50 billion away from erasing the losses spurred by Hindenburg’s report. The recovery likely rewarded retail investors who used the selloff as a buying opportunity.
