Hindenburg Strike: Adani Group Stocks Dip, 53K cr Lost?

US short-seller Hindenburg is back with a bang. After hinting that something big is coming concerning India the firm dropped a big bomb. It alleged that Sebi chief Madhabi Puri Buch and her spouse have stakes in the offshore funds of the Adani group. The allegations created a big sensation in the country.

This is the second time the US firm has aimed at the Adani group. Earlier it came up with sensational allegations and said that the Adani group is indulged in offshore assets. With this, the Adani empire almost came down crashing.

This time it's a double blow as it alleged that the Sebi chief has stakes in the offshore assets, Both the Sebi chief and Adani Group rubbished the allegations. Adani Group alleged that the firm came up with lies again.

With this, the Adani Group is facing the heat as its shares come down. As per the information the share value reduced by 17 percent. As reported by Business Standard the shared came down post the allegations from the Hinderburn research.

On the BSE, the share values came down by 17 percent. The shares of various entities owned by the Adani Group were hit hard by the allegations and the shares came down.

Shares of Adani Energy Solutions and Adani Total Gas saw a big impact with the allegations compared to other shares. As a result, there was a massive loss of Rs 53,000 Crores. It is said that there was a massive loss with this.

Due to the allegations, the investors are being picky which led to the Adani Group facing the heat and losing as many as 53,000 crores. The same happened when the Hindenburg targeted the Adani Group. It took some time for the Group to bounce back. We have to see what the group does this time.