HINDENBURG ON ADANI GROUP
After Kotak twist & China spies, Hindenburg vs Adani gets murkier as new details emerge in the drama
Adani-Hindenburg row: In the ongoing Adani-Hindenburg saga, new revelations show that US short-seller Hindenburg Research shared its critical report on the Adani group with New York hedge fund manager Mark Kingdon months before its public release. According to Sebi, this collaboration involved a profit-sharing agreement tied to significant declines in Adani's market value, exceeding USD 150 billion across 10 listed firms.
Chinese involvement in Hindenburg report? Senior lawyer Jethmalani's claim turns Adani saga into a spy thriller
Adani Hindenburg row: Senior lawyer Mahesh Jethmalani has alleged that a businessman with ties to China commissioned a report by Hindenburg Research, resulting in a significant decline in Adani Group shares in January 2023. Jethmalani claimed that Chinese spy Anla Cheng and her husband Mark Kingdon hired Hindenburg and used Kotak Mahindra Investments Limited to establish a trading account for short-selling Adani shares. This move, according to Jethmalani, led to substantial profits for them while causing financial harm to numerous Indian retail investors.
Kotak twist to Adani- Hindenburg drama: Here's how US short seller responded to Sebi show cause notice
Adani Hindenburg Row: In the latest turn of events, Hindenburg revealed it received a show-cause notice from India's market regulator SEBI over alleged violations related to its bets on Adani Group stocks. Kotak Bank was also entangled in the latest developments. Previously, Hindenburg Research had accused the Adani Group of stock market manipulation and accounting fraud.
China angle' in Hindenburg report on Adani group alleges Mahesh Jethmalani
Mahesh Jethmalani, Rajya Sabha MP & Senior Advocate, alleges 'China angle' in Hindenburg report on Adani group. He says, "In connection with the short sale of Adani shares, we have only heard of Hindenburg, they prepared the research report on the Adani group at the instance ...
Beyond Kotak, is there a China connection to the Hindenburg exposé on Adani?
Social media is rife with claims that the wife of Mark Elliot Kingdon, the man on whom the spotlight fell following Sebi's revelations, has had ties with the Chinese Communist Party and thus China could be another actor in the Hindenburg saga.
View: Adani will rejoice as Hindenburg case inquiry now turns to Kotak
"Now that the SEBI inquiry has gone in the wrong direction, and Hindenburg has dared the watchdog by bringing up Kotak’s name, Adani can go in search of new infrastructure deals — from transport and energy to data centers and building materials. I’m pretty sure he won’t be asking Kotak Mahindra to pony up money."
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Hedge fund’s secret Adani short revealed in blow-by-blow account
A short-seller's report targeting Adani Group led to a $153 bn market value drop. The investigation involved a hedge fund, regulator, and a big Indian bank. US regulators scrutinized hedge fund collaborations and short-selling's impact on market efficiency.
Adani saga heads for a messy closure
SEBI-Hindenburg clash escalates, questioning SEBI's actions and hindering the closure of the Adani controversy, showcasing the evolving dynamics in the financial market regulatory landscape.
Kotak Bank gets pulled into Hindenburg-Adani-SEBI wormhole; here what it said
Kotak Hindenburg Adani SEBI: US-based short-seller Hindenburg Research disclosed that SEBI accused them of violating Indian regulations, calling the charges "nonsense" and alleging they aim to silence critics of powerful figures. For the first time, Hindenburg implicated Kotak Mahindra Bank in the Adani controversy, causing the stock to dip sharply.
Hindenburg has never been a client of the firm, Kotak Mahindra International says
Kotak Mahindra International Limited (KMIL) clarified on Tuesday that Hindenburg has never been a client or investor of the firm. The company made the statement to address any confusion regarding their relationship with Hindenburg.
Sebi pressured brokers to close Adani short positions, will file RTI: Hindenburg
US-based Hindenburg Research criticized Sebi's show cause notice alleging violations of Indian securities laws as "nonsense" and claimed it was concocted to fulfill a predetermined agenda. The investment management firm led by Nate Anderson is currently initiating the process of filing a Right to Information (RTI) request to obtain the names of Sebi employees involved in both the Adani and Hindenburg matters.
Hedge fund’s secret Adani short revealed in blow-by-blow account
The short-selling scandal involving Hindenburg Research, Adani Group, and Sebi triggered regulatory scrutiny and a US Justice Department probe. The scandal emphasized the importance of market efficiency amidst fraud allegations and regulatory actions.
Adani-Hindenburg Row: What are the allegations against US-based short-seller? What's the link with Kotak Mahindra?
Hindenburg Research rebuts Sebi's allegations of collusion with Kingdon Capital Management in shorting Adani Group stocks. Sebi's 46-page notice claims Hindenburg's actions facilitated significant gains for Kingdon Capital, but Hindenburg dismisses these as baseless and accuses Sebi of neglecting investor protection. Kotak Mahindra Bank's alleged involvement adds to the controversy, with Sebi and Kotak yet to comment.
Idea of Kotak as a party to Hindenburg’s Adani shorting strange and almost unbelievable: Shriram Subramanian
Shriram Subramanian gives his opinion on the saga involving Kotak Mahindra Bank, Hindenburg Research, and Sebi deepens with the emergence of a show cause notice and the potential for parallel investigations. Details reveal suspected violations, offshore fund structures, and ongoing Adani investigations, raising questions about the alleged role e of Kotak in the controversy.
Hindenburg claims making merely $4 million from $153 billion Adani selloff
Hindenburg admits revenue from Adani shorts, may barely break even. Responds to Sebi's show cause notice, highlights fraud risks, and calls out regulators for neglecting investor protection.
Hindenburg faces Sebi scrutiny, Kotak Bank dragged in Adani saga
Adani-Hindenburg Case: Hindenburg Research's disclosure of suspected violations by Sebi regarding Adani Group's short bet led to minimal gains, highlighting challenges foreign investors face under Indian securities rules. The short seller also stated that Kotak Mahindra Bank created and oversaw an offshore fund structure used by its "investor partner" to bet against the conglomerate, providing new details of trades that puzzled investors.
Zero factual inaccuracies with our Adani research: Hindenburg on Sebi notice | Read short seller's full response here
Adani-Hindenburg Case: US-based short-seller Hindenburg Research stated Kotak Bank, one of India’s largest banks and brokerage firms founded by Uday Kotak, which created and oversaw the offshore fund structure used by our investor partner to bet against Adani. Instead it simply named the K-India Opportunities fund and masked the “Kotak” name with the acronym “KMIL”
Adani CFO says Sebi notices procedural
The conglomerate faces Sebi notices, financial scrutiny, and market challenges but remains compliant and poised for a strategic rebound from recent setbacks.
Adani at AGM: Well positioned to continue programmes with Modi govt now in third term
With the Modi-led National Democratic Alliance securing a third term, Gautam Adani, at Adani Enterprises' AGM, highlighted the group’s continued role in India’s growth. Adani addressed challenges from the Hindenburg controversy, emphasizing financial resilience and ambitious projects, including Mumbai’s Dharavi redevelopment. He projected India becoming the world's third-largest economy by decade's end.
Adani Group suffers Rs 3 lakh crore shock as stocks crash up to 20%
Adani Group Stocks: Shares of all 10 Adani Group companies fell as PM Modi's election results showed unexpected outcome, leading to a 20% crash in Adani Ports stock.
Adani group stocks surge up to 6% a day after Lok Sabha election results
Adani group stocks rebounded up to 6% on Wednesday after an initial 15% decline, triggered by election result disappointment. On Tuesday, all 10 Adani companies faced losses, shedding around Rs 3 lakh crore. Global brokerage Jefferies recommends buying Adani Enterprises, Adani Ports, and Adani Energy Solutions.
Adani stocks get rid of Hindenburg stain after 16 months as m-cap nears Rs 2 trillion
Compared to pre-Hindenburg levels, the stock of Adani Power has soared nearly 220%, while Adani Ports has more than doubled in value. ACC, Adani Enterprises, Adani Green Energy, and Ambuja Cements are also trading above pre-Hindenburg levels.
Adani third Indian business house to cross $10-b mark in operating profit
Adani Group joins Tata Group and Mukesh Ambani's Reliance Group in achieving $10 billion annual operating profit in FY24 despite challenges.
Jefferies bullish on Adani Group on the back of a renewed expansion spree
Adani Group, rebounding from market losses caused by a US short seller report in early 2023, is now on an "expansion spree," aiming for a USD 90 billion capex over the next decade. Jefferies reports a 40% YoY EBITDA growth, with focus on debt containment and fresh funds. Various Adani companies witnessed significant developments, including acquisitions, power plant commissioning, and renewable energy capacity addition.
GQG Partners' investments in Adani stocks surge 172% to $11.6 billion
The US-based investment firm saw its investment in six Adani group stocks nearly triple in value, from ₹38,500 crore ($4.6 billion) to ₹96,431 crore ($11.62 billion) within a span of roughly seven months. This remarkable 150% increase highlights the investor's confidence in the Adani group and the potential growth of the Indian market.
Chatter doesn't matter: Has Adani been able to firewall himself?
Adani Group faced a tumultuous period after allegations by Hindenburg Research, but quickly recovered and regained market value. Recent accusations regarding a coal deal and ethical concerns have failed to impact the group's stocks significantly. Investors seem impervious to negative chatter as the group continues its growth journey.
Adani Enterprises shares finally get rid of Hindenburg's ugly scar, surge 3x in 16 months
Shares of Gautam Adani's flagship entity, Adani Enterprises, have recovered from losses post the Hindenburg report, with a 23% jump in 2 weeks. The stock is close to its all-time peak and is set to enter the Sensex index.
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