After the report of American financial research company Hindenburg Research, there is a continuous decline in the shares of Adani Group companies. Know in this report that which company of Adani Group has declined.
New Delhi: Shares of Adani Group remained under pressure on Friday as well and fell 20 per cent in early deals. Significantly, Hindenburg Research has made several allegations against the group. In its report, the group led by industrialist Gautam Adani has been accused of indulging in “blatant stock manipulation and accounting fraud”. After this allegation of the company, there was a big fall in the shares of the listed companies of the group related to the diversified business.
Adani Group shares fell
Shares of Adani Total Gas fell by 19.65 per cent, Adani Transmission by 19 per cent, Adani Green Energy by 15.50 per cent and Adani Enterprises by 6.19 per cent. On the other hand, shares of Adani Ports and Special Economic Zone fell by 5.31 percent, Adani Wilmar by 5 percent and Adani Power by 4.99 percent. This can also be understood through the given chart.
| adani company name | Share Decline (in %) |
| Adani Total Gas Company | 19.65 |
| Rustic transmission | 19 |
| Rural Green Energy | 15.50 |
| Adani Enterprises | 6.19 |
| Adani Ports and Special Economic Zone | 5.31 |
| Rustic Wilmer | 5 |
| Adani Power Shares | 4.99 |
Amid falling prices of Adani Group shares, the company says it will take ‘punitive action’ against Hindenburg Research. For this, he is looking into legal options. The company says that Hindenburg Research is acting ‘indiscriminately’ in an attempt to harm share sales. At the same time, American financial research company Hindenburg Research said that it stands by its report.
Adani Group will take legal action on Hindenburg Research
Adani Group’s lead chief Jatin Jalundhwala said, ‘Hindenburg Research published the report on January 24, 2023 against the group without any research and complete information with wrong intention. This has adversely affected the Adani Group, our shareholders and investors. The ups and downs brought by the report in the Indian stock market is a matter of great concern…’ He said that the report and its baseless talk is nothing but ready to harm the share prices of Adani group companies. were done.
Jalundhwala said, ‘A foreign entity has made a deliberate and reckless attempt to mislead the investor community and the general public. He has done the work of damaging the sale of our flagship company Adani Enterprises FPO (Follow on Public Offer) along with discounting the credibility of Adani Group and its leadership. We are very upset with his antics. He said, ‘We are looking into settlement and punitive action against Hindenburg Research under US and Indian law.’
Earlier on Wednesday, American financial research company Hindenburg said that after two years of its research, it was found that Adani Group has been involved in ‘open stock manipulation and accounting fraud’ for decades.
