‘Something big soon India’: Hindenburg Research hints at major new revelation

Hindenburg Research the USbased short seller known for its exposeacute on the Adani Group has hinted at another significant disclosure involving IndiaIn a recent post on X Hindenburg stated Something big soon India sparking widespread speculation about which corporation might be its next targetSomething big soon Indiamdash Hindenburg Research HindenburgRes August 10 2024In January 2023 Hindenburg Research published a report accusing the Adani Group of financial irregularities leading to a significant drop in the companys stock price The group at the time had rubbished these claimsThe Hindenburg report alleged stock manipulation and fraud by the conglomerate The case is related to the allegations part of a report by shortseller Hindenburg Research that Adani had inflated its share prices After these allegations were published it led to a sharp fall in the shares of various Adani group companies stocks reportedly to the tune of over USD 100 billionThe US short sellers report was published two days before a USD 25 billion followup public offering was issued by Adani EnterprisesThe Adani group has repeatedly denied all the accusations in the Hindenburg Research report reported ANIIn July this year one of Indias senior most lawyer and BJP leader Mahesh Jethmalani has alleged that a USbased businessman with Chinese links had commissioned the report by Hindenburg Research which led to a significant drop in the Adani group companies shares in JanuaryFebruary 2023 reported ANIJethmalani claimed that Mark Kingdon the American businessman behind Kingdon Capital Management LLC had hired Hindenburg Research to prepare a report on the Adani GroupJethmalani in a social media post on X in July this year has alleged that spy Anla Cheng and her husband Mark Kingdon hired Hindenburg Research to prepare a report on Adani group companies The senior lawyer further said that they used Kotak Mahindra Investments Limited KMIL to set up a trading account for shortselling Adani shares and make profits in millions at the cost of Indian retail investorsLater Mahesh Jethmalani also called on the government to probe the links of political voices who sought to target the Adani group after the Hindenburg report with China reported ANIHe flagged Chinese hand behind the report by the American short seller Hindenburg that targeted the Indian conglomerate He added that the hit job on the Adani group was Chinese vengeance for losing out on the infrastructure projects like the Haifa Port reported ANIEarlier the Supreme Court of India has also given a clean chit to Adani group on Hindenburg charges after SEBIs report on the allegations Recently the apex court has dismissed a review petition to constitute a courtmonitored Special Investigation Team SIT probe into the AdaniHindenburg issue reported ANIIn June this year while addressing the Annual General Meeting AGM of Adani Enterprises Group Chairman Gautam Adani said they were faced with baseless accusations made by a foreign short seller that questioned our decades of hard work reported ANIIn the face of an unprecedented attack on our integrity and reputation we fought back and proved that no challenge could weaken the foundations on which your Group has been established he told the gatheringWith inputs from ANI