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Feb 11, 2023 · When shares of the Adani Group, until recently India’s largest conglomerate, began their free fall late last month, shedding more than $100 billion in days, some observers worried that the...
- Alex Travelli
- Crisis Calendar
- Ratings Downgrade
- Potential Spillover
- Reputational Damage
January 24 Hindenburg Research publishes a report alleging that the Adani Group is pulling off the “largest con in corporate history”. It claims the Indian conglomerate has been involved in stock manipulation, accounting fraud, improper use of tax havens and money laundering. January 26 The Adani Group dismisses Hindenburg’s allegations as “malicio...
The valuations of Adani’s companies have rocketed over the past three years. Between April 2020 and August 2022, the value of its stocks rose nearly 4000%. Now that the stocks are plummeting, these companies are facing a downgrade in ratings. Bloomberg columnist Andy Mukherjee points out that some of the group’s securities that Credit Suisse had as...
It is not only Hindenburg that has made such allegations against the Adani Group. In August 2022, American finance and insurance company Fitch Group warned that the group had taken on too much debt and raised the possibility of a default “in the worst-case scenario”. However, the report also said the Adani Group draws “comfort” from its strong rela...
Sharma also pointed outthat one factor that distinguishes India from other emerging nations is the transparency of its markets and the quality of its market regulator. This crisis, he notes, is challenging that image. As a consequence, the Modi government cannot afford to mismanage the crisis. On a similar note, Wall Street Journal columnist Megha ...
Feb 3, 2023 · Santanu Sengupta, chief India economist at Goldman Sachs, discusses the impact of the Adani Group stock rout on the Indian economy, the country’s banking system and his outlook for India’s growth.
- 4 min
Feb 10, 2023 · The Adani Group, one of India's largest conglomerates, has lost billions in market value after being accused of fraud. The company has denied everything.
- Paddy Hirsch
Feb 7, 2023 · India's Adani Group has seen its market value plunge after a US investment firm made fraud allegations against it. Can its ambitious growth plans survive? How did the market rout unfold?
- Archana Shukla
Feb 9, 2023 · Indian media report that the main stockmarket regulator, the Securities and Exchange Board of India, has requested information about the ownership of the offshore firms that Hindenburg accused...
Feb 10, 2023 · Since American firm Hindenburg Research released a scathing report last month alleging widespread fraud, market manipulation and corruption, the head of India's Adani Group has lost...
