In a mysterious post on the social networking site X, US-based short-seller Hindenburg Research alluded to “something big soon India,” which sparked a barrage of comments accusing the company of deceiving investors. Many people are speculating about if the short-seller is trying to destabilise the Indian market once more as a result of the article.
Hindenburg Research is renowned for its dramatic reporting style, which stands in stark contrast to other research organisations’ more conventional analysis. A contentious study that the company published last year accused the Adani Group of masterminding “the largest con in corporate history.” A huge selloff resulted, wiping away over $100 billion in the group’s market value and removing Gautam Adani from the list of the world’s ten richest people.
X user Devansh Gupta slammed Hindenburg in response to the most recent tweet, saying “[Hindenburg’s] credibility is out of the window. India won’t care.”
Madhusudhan, an X user, commented, “Adani finished. Ambani next? However, because Adani was taken down before, Indian investors have grown a little more astute. less inclined to behave rashly in the absence of solid research.”
With more than 18,000 postings, the #Hindenburg hashtag on X is able to be seen in the trending area. More than 7.4 million people have viewed the tweet alone.
#hindenburg #trending #linkedinpost #cawithswag
Adani-Hindenburg Row
Wide-ranging repercussions resulted from Hindenburg’s earlier research on the Adani Group, including the cancellation of the company’s flagship follow-on public offering of Rs 20,000 crore. The Adani Group has always refuted the accusations, and a review by SEBI (Securities and Exchange Board of India), supported by the Supreme Court, found no evidence of misconduct. Hindenburg, on the other hand, recently slammed SEBI, claiming that it was shielding Kotak Mahindra Investments, a group company of Kotak Mahindra Bank, which reportedly opened an offshore trading account that US businessman Mark Kingdon used to keep a short position on Adani Group shares.
As conjecture abounds on social media, it is unclear if Hindenburg’s most recent teaser would have a comparable effect on the Indian market.