by Shares inAdani Group firms misplaced $12 billion in market worth after US investor Hindenburg Research mentioned it was shorting the conglomerate’s shares and accused companies owned by Asia’s richest man of “brazen” market manipulation and accounting fraud.
Bonds and shares of Adani-related entities slumped after Hindenburg, an funding analysis agency that makes a speciality of short-selling, made wide-ranging allegations of purported company malpractice following a two-year investigation into the tycoon’s firms.
