Adani shares fall as short seller firm Hindenburg announces short position

Key Points

• "After extensive research, we have taken a short position in Adani Group Companies through U.S.-traded bonds and non-Indian-traded derivative instruments," Hindenburg announced in its report.
• Shares of Adani-affiliated companies fell after the short seller firm accused the conglomerate of corporate fraud.

In this article

• ADANITRANS-IN
• ADANIPOWER-IN
• ADANIPORTS-IN

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A man wearing a helmet passes by an advertisment board of Adani Reality in Mumbai, India, 23 November, 2022. (Photo by Indranil Aditya/NurPhoto via Getty Images)

Nurphoto | Nurphoto | Getty Images

Short seller firm Hindenburg announced its short position in Adani Group companies ahead of India's market open on Wednesday and accused billionaire Gautam Adani of engaging in "brazen" stock manipulation and accounting fraud.