'Something big soon India': Hindenburg Research hints at new Indian target after Adani Group
New York/IBNS: American investment research firm Hindenburg Research suggested another major revelation involving an Indian company may be imminent.
The New York-based short-selling firm on Saturday (August 10) posted a cryptic message on X (formerly Twitter) stating, “Something big soon India.”
Something big soon India
— Hindenburg Research (@HindenburgRes) August 10, 2024
This comes over a year after Hindenburg Research published allegations against Indian billionaire Gautam Adani's Adani Group, accusing them of insider trading and stock market violations.
The January 2023 report of Hindenburg led to a significant drop in Adani Group stock prices, reportedly causing losses of over $100 billion.
The Adani Group has consistently denied all accusations made in the Hindenburg report, and at the time of its release, the Ahmedabad-headquartered multinational conglomerate dismissed the claims as baseless.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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