Adani Group is under fire again, with its shares seeing significant volatility following fresh accusations from short-selling firm Hindenburg Research.
Hindenburg’s latest report accuses the chairman of India’s Securities and Exchange Board of India (SEBI) of potential conflicts of interest, casting doubt on the regulator’s impartiality in its investigation into the conglomerate. The allegations have reignited concerns about corporate governance and financial transparency at Adani Group.
Although the group's share prices initially fell, they managed to recover some of their losses by the end of the trading day. However, the ongoing saga highlights the fragile investor sentiment surrounding the Adani Group and raises questions about the effectiveness of regulatory oversight in India.
Adani Group has vehemently denied all the allegations, maintaining its position of transparency and compliance. As the situation unfolds, investors will be closely monitoring developments to assess the potential impact on their portfolios.