Reuters
India’s Adani hits back at Hindenburg, insists made full disclosure
NEW DELHI (Reuters) -India’s Adani Group issued a detailed riposte on Sunday to a Hindenburg Research report that sparked a $48 billion rout in its stocks, saying it complies with all local laws and had made the necessary regulatory disclosures. The conglomerate led by Asia’s richest man, the Indian billionaire Gautam Adani, said last week’s Hindenburg report was intended to enable the U.S.-based short seller to book gains, without citing evidence. Adani Group’s response comes as its flagship company, Adani Enterprises, pushes ahead with a $2.5 billion share sale.
Source: finance.yahoo.com
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