Key Points
Embattled billionaire Gautam Adani, who has survived the 2008 terror attack in Mumbai's Taj Hotel and kidnapping incident in 1998, is walking out of 2023 after suffering a loss of about $35 billion from the Hindenburg attack...
Following the Hindenburg controversy and subsequent investigation by markets regulator Sebi on allegations of share price manipulation, the 61-year-old tycoon saw the highest decline in his personal wealth globally, data from Bloomberg Billionaires Index shows.. In pre-Hindenburg days, the maverick businessman's wealth saw a gravity-defying one-way movement that took him to the position of world's second richest man for a brief period..
With his fortune being estimated at around $85 billion, Adani is now the second richest Indian after Mukesh Ambani...
Last month, the Supreme Court reserved its order on a batch of pleas concerning the Adani-Hindenburg row on allegations of stock price manipulation, saying it cannot ask a statutory regulator to take as a "gospel truth" something which was published in the media...
In a 106-page report on January 24, Hindenburg had called Adani's rise to the riches as the "largest con in corporate history" and made serious claims around stock manipulation and accounting fraud schemes by the self-made billionaire over the course of decades...
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03, Mar, 23However, the Supreme Court-appointed committee and Sebi's investigation into the stock crash and the Hindenburg report will remain a key overhang on the stock till the investigation is completed in the next two months.
Adani stocks rally up to 10% ahead of Supreme Court verdict on Hindenburg
03, Jan, 24Among Adani group stocks, Adani Energy Solutions was the top gainer as it shot up to 10% while Adani Total Gas was up 8% and NDTV 7%. Shares of Adani Green Energy, Adani Wilmar, Adani Enterprises and Adani Power were trading 5-6% higher. The Ahmedabad-based conglomerate's cash cow Adani Ports was up 3%.
Some entities profited from Adani stock crash, retail lost Rs 3,700 crore: Sebi probe
19, May, 23The Sebi investigation into the Adani vs Hindenburg saga has found that some entities profited from the massive rout in stocks of billionaire Gautam Adani's companies, while retail investors suffered a loss of Rs 3,700 crore. The panel said since the issue is still under investigation, it can't express any opinion on merits.