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Hindenburg shorts India's Adani Group, flags debt and accounting concerns

The Star LogoThe Star3d ago

Hindenburg shorts India's Adani Group, flags debt and accounting concerns - The Star

Quick Summary:

BENGALURU: Hindenburg Research said on Wednesday it held short positions in India's Adani Group, accusing the conglomerate of improper extensive use of entities set up in offshore tax havens and expressing concern about high debt levels.

Adani Chief Financial Officer Jugeshinder Singh told media on Jan.21 "Nobody has raised debt concerns to us.No single investor has".

In the wake of the Hindenburg report, Adani Ports And Special Economic Zone slid 7.3% to its lowest level since early July, while Adani Enterprises dropped 3.7% to a near three-month low.


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Article Details

Category: EconomyBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2023-01-25 @ 14:43:00 (3 days ago)

News Timezone: GMT +8:00

Ranking: #2242 (out of 5157 stories this day)

News Source URL: thestar.com.my

Language: English

Article Length: 467 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 4762708

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About The Star

The Star Logo

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 11 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 1 days ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #22

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  • URL: https://beamstart.com/news/hindenburg-shorts-indias-adani-group-1674629744998

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