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Shares of Adani Total Gas plummeted 19.65 per cent, Adani Transmission tumbled 19 per cent, Adani Green Energy plunged 15.50 per cent and Adani Enterprises tanked 6.19 per cent on the BSE.  https://www.rediff.com/business/report/adani-group-stocks-crash-upto-20-pc-amid-hindenburg-report/20230127.htm 

Also, Adani Ports and Special Economic Zone fell 5.31 per cent, Adani Wilmar dipped 5 per cent and Adani Power declined 4.99 per cent. 27/01/2023

रवीश कुमार की बात हो गई सच! मोदी शाह का एक और विकेट गिर गया? जल्दी देखिए। HNP NEWS Jan 28, 2023 https://www.youtube.com/watch?v=8j8_jY90gx4

Comment: MOHAMED SIRAJ DHALAYAT This is a biggest scam by this corporater and our economy will affect a lot. Especially LIC and SBI will encore heavy losses, this is for sure. And important aspects LIC has lots of lots unclaimed amount. This was the target by present central Govt. These people had eye on unclaimed amount, how to grab.

https://youtu.be/ZI1MOlf6KGQ?t=130 Newsense.. Adani fall out..#TVNewsance turns 200! We talk about #HindenburgResearch, how NDTV covered it & more!

Adani vs Hindenburg is front-page news, but what about Adani-owned media houses? https://www.newslaundry.com/2023/01/27/adani-vs-hindenburg-is-front-page-news-but-what-about-adani-owned-media-houses Most newspapers also had full-page ads on the Adani group’s FPO.
ByTanishka Sodhi 27 Jan, 2023

Adani Response to Hindenberg... https://www.youtube.com/watch?v=VJS3ZEpEsqo

21 out of 88 Hindenburg questions disclosed since 2015: Adani Group
These questions are about related party transactions, DRI (Directorate of Revenue Intelligence) and court cases, the Adani group said in a presentation called ‘Myths of short seller’. https://indianexpress.com/article/business/companies/21-out-of-88-hindenburg-questions-disclosed-since-2015-adani-group-8408717/#:~:text=The%20Adani%20Group%20on%20Friday,documents%20back%20from%202015%20onwards. On revenue or balance sheet being artificially inflated, Adani said that out of nine listed companies in the portfolio, six are subject to specific sector regulatory review for revenue, costs, and capital expenditure. The group further reiterated that on governance, four of its large companies are amongst the top 7 per cent of the peer group in emerging markets, the sector, or the world. It added that overall promoter leverage is less than four per cent of the promoter stake.

https://www.bseindia.com/xml-data/corpfiling/AttachLive/227f5520-4cbb-47ca-bcb4-f6957c395762.pdf

Congress Rsponse:

STATEMENT ISSUED BY SHRI JAIRAM RAMESH, MP, GENERAL SECRETARY (COMMUNICATIONS), AICC

January 27, 2023

Normally a political party should not be reacting to a research report on an individual company or business group prepared by a hedge fund. But the forensic analysis by Hindenburg Research of the Adani Group demands a response from the Congress party. This is because the Adani Group is no ordinary conglomerate: it is closely identified with Prime Minister Narendra Modi since the time he was Chief Minister.

Furthermore the high exposure of financial institutions such as the Life Insurance Company of India (LIC) and the State Bank of India (SBI) to the Adani Group has implications for financial stability and for the crores of Indians whose savings are stewarded by these pillars of the financial system. It is worth noting that earlier reports had described the Adani Group as “deeply over leveraged”. The allegations require serious investigation by those who are responsible for the stability and security of the Indian financial system, viz. the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI).

The Hindenburg report alleges “brazen stock manipulation” and “accounting fraud” by the Adani Group via “a vast labyrinth of offshore shell entities”. The evolution and modernisation of India’s financial markets since the 1991 reforms has aimed to improve transparency and to level the playing field for domestic and foreign investors. It has specifically sought to increase the transparency of financial flows into the country — to prevent round-tripping and money-laundering by actors that could include criminals, terrorists and hostile countries — and to reduce dependence on offshore tax havens. For all its posturing about black money, has the Modi government chosen to turn a blind eye towards illicit activities by its favourite business group? Is there a quid pro quo? Will SEBI investigate these allegations to the fullest and not just in name?
The allegations of financial malfeasance would be bad enough, but what is worse is that the Modi government may have exposed India’s financial system to systemic risks through the liberal investments in the Adani Group made by strategic state entities like LIC, SBI and other public sector banks. These institutions have liberally financed the Adani Group even as their private sector counterparts have chosen to avoid investing because of concerns over corporate governance and indebtedness. As much as 8% of LIC’s equity assets under management, amounting to a gigantic sum of ₹74,000 crore, are in Adani companies and comprise its second-largest holding.

State-owned banks have lent twice as much to the Adani group as private banks, with 40% of their lending being done by SBI. This irresponsibility has exposed the crores of Indians who have poured their savings into LIC and SBI to financial risk. If, as alleged, the Adani Group has artificially inflated the value of its stock through manipulation, and then raised funds by pledging those shares, banks such as SBI could face heavy losses in the event of a fall in those share prices. Indians are increasingly aware of how the rise of Modi’s cronies has exacerbated the problem of inequality, but need to understand how this has been financed by their own hard-earned savings. Will the RBI ensure that risks to financial stability are investigated and contained? Are these not clear-cut cases of “phone banking”?

None of this will be easy. In recent years, the Adani group has built monopolies in ports and airports and become an overwhelmingly dominant player in power, roads, railways, energy and media. In perhaps the most egregious case of crony capitalism, the previous operator of Mumbai’s Chhatrapati Shivaji Maharaj International Airport, India’s second busiest airport, was raided by the Enforcement Directorate (ED) and the Central Board of Investigation (CBI) after it rejected an offer by the Adani Group. The operator agreed to sell the airport to Adani a month later and it is a mystery what happened to the ED and CBI cases thereafter.
We fully understand the close relationship between the Adani Group and the current government. But it is incumbent on the Congress party as a responsible opposition party to urge SEBI and RBI to play their roles as stewards of the financial system and to investigate these allegations in the wider public interest.

The Modi Sarkar can try and impose censorship. But in an era of globalisation of Indian businesses and financial markets can Hindenburg-type reports that focus on corporate misgovernance be simply brushed aside and dismissed as being “malicious”?

Hindenburg ने Adani ग्रुप पर लगाया अकाउंटिंग फ्रॉड का आरोप, रिपोर्ट से मचा हड़कंप  https://www.youtube.com/watch?v=8O6bhFAsnxY 

Hindenburg shorts India's Adani citing debt, accounting concerns; shares plunge
By Chris Thomas and Aditya Kalra https://www.reuters.com/markets/asia/hindenburg-says-holds-short-positions-indias-adani-flags-risks-2023-01-25/  Its scathing research report questioned how the Adani Group has used offshore entities in offshore tax havens like Mauritius and the Caribbean Islands, adding that certain offshore funds and shell companies tied to the Adani Group "surreptitiously" own stock in Adani listed firms.

It also said key listed Adani companies had "substantial debt" which has put the entire group on a "precarious financial footing" and asserted that shares in seven Adani listed companies have an 85% downside on a fundamental basis due to what it called "sky-high valuations".

Adani Group says allegations made in Hindenburg report 'stale and baseless' https://www.business-standard.com/article/companies/adani-group-says-allegations-made-in-hindenburg-report-stale-and-baseless-123012500772_1.html Hindenburg Research said that it was shorting Adani group's stocks and accused the firms of 'brazen' market manipulation and accounting fraud January 25, 2023

Adani Group said that the Hindenburg Research report was released on January 24 without making any attempt to contact them or verify the facts. It added that the allegations made have already been rejected by the "highest courts" in India.

"The report is a malicious combination of selective misinformation and stale, baseless and discredited allegations that have been tested and rejected by India's highest courts. The timing of the report’s publication clearly betrays a brazen, mala fide intention to undermine the Adani Group’s reputation with the principal objective of damaging the upcoming Follow-on Public Offering from Adani Enterprises, the biggest FPO ever in India.

What Does The Hindenburg Report Say? Business Today Editor Siddarth Zarabi Explains!

The elephant in Adani’s room
Geoff Law Jan 24, 2023  https://www.adaniwatch.org/the_elephant_in_adani_s_room  many conservationists criticised the decision to exclude several coal blocks from the reserve, including those allocated to Adani by the previous government.

PEKB’s 1130-ha extension, the Parsa coal block and the Kente Extension coal block. Each of these coal projects is having, or will have, its own significant impacts on the future of elephants and indigenous people in central India.
The Adani-operated PEKB mine in the Hasdeo forests - responsible for displacement of Adivasi people and fragmentation of elephant habitat. An expansion of this mine has been fought by local people. These coal projects have been the subject of messy, convoluted battles in the courts, the media and on the streets. Adani’s role in developing these coal mines and displacing Adivasi people has tarnished the Adani brand internationally.

This kind of mess can be avoided when it comes to the 14 blocks contained within the 1995-ha Lemru elephant reserve – provided the Modi government formally notifies it. That would constitute an important step forward in mitigating human-elephant conflict in at least a part of the Hasdeo forests.