Hindenburg-inflicted losses still weigh heavily on Adani stocks
About four months after US short seller Hindenburg Research shook Indian financial markets with a bombshell report on the Adani Group, the conglomerate’s stocks are finding it hard to shake off the impact.
While two of Adani’s 10 stocks have bounced back strongly, a full recovery to pre-Hindenburg levels looks a ways away. The group’s market value is still down more than $100 billion since Hindenburg’s Jan. 24 report, which claimed that billionaire Gautam Adani’s empire was “pulling the largest con in corporate history.” The rout had reached $153 billion at one point.
