After Adani bomb, Hindenburg Research teases 'another big' report

Hidenburg Research's previous report has caused Indian tycoon Gautam Adani wealth decline by about 60% from its peak point.

After dropping a bombshell on Gujarat tycoon Gautam Adani, Hindenburg Research announced that it would disclose "another big" expose, causing people to wonder who the US short seller will target next.

On Thursday, Hindenburg Research tweeted: “New report soon—another big one."

The US short-seller on January 24 attacked Adani group with a 106-page-long report accusing the firm of various financial malpractices. The report, just ahead of the Adani Enterprises share sale, triggered a $86 billion rout in the group's domestically listed stocks and an overseas sell-off in its bonds.

Hindenburg Research is a financial research firm that examines derivatives, credit, and stock for possible mismanagement, bookkeeping irregularities, and hidden transactions. The firm reveals its findings in reports before investing its own money and betting against the target.

By Singh Rahul Sunilkumar

Mar 23, 2023 10:49 AM IST