Delhi: After the report of short-seller Hindenburg Research (Hindenburg Research on Adani Group) came out, the shares of India’s billionaire industrialist Gautam Adani’s companies have suffered a huge economic blow. Short-seller Hindenburg Research has made serious allegations against Adani Group citing stock manipulation and accounting fraud in a report. That’s why Adani Group is discussed in many parts of the world media since the report came out. Mahindra Group Chairman Anand Mahindra has come forward to help Adani Group. Anand Mahindra, who is very active on social media, always shares success stories. However today he has come out in clear words in front of the world media to help the Adani group. Of course many people have reacted to his tweet.
Don’t bet against India – Anand Mahindra
Anand Mahindra said in his tweet that the global media is speculating whether the current challenges in the industrial sector will derail India’s ambitions of becoming an economic superpower. I have been watching for a long time that India is facing earthquakes, droughts, recessions, wars, terrorist attacks. He said that all I would say is never bet against India. Meanwhile, sensational allegations from Hindenburg Research sent bonds and shares lower in the group’s companies. Hindenburg Research has alleged stock manipulation and fraud. Hindenburg Research has been doing research on Adani Group for the last two years. Since the release of the Hindenburg report, the market share of Adani group companies has declined by Rs 1 lakh crore. On the second day too, the market lost Rs 4 lakh crore in two days due to fall in stocks.
Global media is speculating whether current challenges in the business sector will trip India’s ambitions to be a global economic force. I’ve lived long enough to see us face earthquakes, droughts, recessions, wars, terror attacks. All I will say is: never, ever bet against India.
— anand mahindra (@anandmahindra) February 4, 2023
Questions have been raised in Parliament on the Adani issue
Ten companies, including Adani Enterprises, the flagship company of Adani Group, have lost more than $110 billion. Credit Suisse and Citigroup have refused to lend on Adani’s bonds. Due to the fall in the stock market, Gautam Adani has also been out of the list of top-20 billionaires. Mukesh Ambani’s entry has been made in the top-10 list. Meanwhile, various opposition parties of the country have raised questions in the Parliament on the Adani issue. Opposition parties have demanded a joint parliamentary committee inquiry or a probe by a Supreme Court-monitored committee.