News / Adani slams short-seller claims 'malicious' and 'baseless speculation'

Mundra Port. Credit Adani Group

Adani Group, India’s port logistics market leader, is fighting hard to regain investor faith, after its bullish growth outlook was badly shaken by allegations of improper behaviour.

The controversy has its roots in adverse disclosures by US-based stock short-seller Hindenburg Research, which accused the Indian conglomerate of stock manipulations, raising concerns about Adani’s high debt exposure and overvaluations.

Hindenburg, in its 24 January report, also alleged improper use of offshore tax havens by the Adani promoters.

The scathing allegations sent shock waves through ...