Another “major” study will be published, as stated by short-seller Hindenburg Research. Short sellers have gone viral on social media with this latest statement just weeks after the catastrophic Hindenburg analysis on the Gautam Adani-led Adani Group and companies created havoc.
Hindenburg Research just announced that it will start releasing another research and that it will likewise be “huge,” in an increasingly popular tweet. The trending tweet has left people questioning what this could mean, even though the short seller has not yet indicated when or on whose firm this information will be published.
“New report soon—another big one,” wrote Hindenburg Research in the viral tweet.
According to its site, Nate Anderson founded Hindenburg Research, which “specialises in forensic financial research.” While the short seller was famous for its research on the world stage, its research on the Adani Group drove it to immense popularity in India. Based on the study, the Adani Company engages in stock manipulation and fraud, driving its shares to a new low.
Furthermore, the Gautam Adani-led company has chosen to cancel the Rs 20,000 crore follow-on public (FPO) offer since the Hindenburg report’s consequences were so severe.
Earlier this month, an experienced committee was established by the Indian Supreme Court (SC) to examine the most latest Adani-Hindenburg issue. The lawsuit connected to the Hindenburg study and the committee’s constitution about regulatory instruments to protect investors had been considered by the court.
The panel was led by retired judge Justice AM Sapre. Also, the Supreme Court has ordered the Securities and Exchange Board of India (SEBI) to look into the issue and determine if Section 19 of the SEBI regulations has been breached and whether share prices have been misled. They have two months to conduct their inquiry and present a progress update.
The Center’s closed cover request to strengthen the stock market’s regulatory procedures during the Adani-Hindenburg issue was denied by the Supreme Court of India (SC). Also, the bench has rejected accepting identities in an envelope in order to maintain the transparency of the procedure and safeguard the Indian shareholders from any loss.
The bench immediately after dismissing the sealed envelope noted that even though the names must be provided to the opposing party, the judge will support a panel autonomously.
Last month, The Adani Group of India’s stock decreased by 50 billion USD as a consequence of the allegations made by Hindenburg. These studies, according to the organization, are a “calculated attack on India,” its systems, and the “growth story” of India.
The Adani group reacted to their 106-page study charging them of “brazen stock manipulation and accounting fraud” in a 413-page report.