Adani once again implied that the allegations of fraud against his company were an attempt to destabilize India’s markets.
Indian billionaire Gautam Adani invoked nationalist sentiment once again Tuesday, as he touted the Adani Group’s resilience against what he claimed was a “malicious” attack by New York-based activist investor Hindenburg Group, whichFILE PHOTO: Gautam Adani, Chairman of the Adani Group during a press conference at a presshis flagship firm Adani Enterprises’ annual shareholders meeting, the billionaire called the Hindenburg report a “combination of targeted misinformation and discredited...
Adani pointed to initial findings outlined by an Indian Supreme Court-appointed committee on the matter, saying it “did not find any regulatory failure,” on his company’s part. The Adani Group chairman said the company remains confident of its “governance and disclosure standards” as it awaits a report from the Securities and Exchange Board of India on Hindenburg’s allegations.—once again leaned into nationalist fervor, comparing his company’s “resilience” with “the resilience that drives our belief in… our motherland.”
The speech made repeated mentions of India’s economic growth and ended with the salutation “Jai Hind” .37%. That’s how much the value of Adani Enterprises' stock has dropped since the start of the year. Since the Hindenburg report
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