Crisis again against Adani Group! Investigation started in this matter in US, stocks crashed, market cap washed 52000 crores

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image : Twitter


Gautam Adani's Adani Group's woes may yet again mount. Sebi, India's stock market regulator, is already investigating the Adani Group following the Supreme Court's order. US agencies are now probing what information the group shared in disclosures to US investors investing in the Adani Group after the short-seller Hindenburg Research report surfaced. Hindenburg accused Adani Group of manipulating share prices of group companies through foreign companies.

What information is sought?

According to reports, the Brooklyn, New York-based US attorney's office has asked institutional investors who have invested heavily in Adani Group shares in recent months to provide information. These investors have been questioned as to what information the Adani Group had given in the disclosure to the investors. The US Securities and Exchange Commission is also investigating.

How is this investigation?

However, this investigation does not mean that any kind of civil or criminal case will be initiated. Often legal agencies conduct investigations on their own without taking any action. After the report surfaced, Anderson of Hindenburg Research tweeted that both the US agencies are investigating the Adani Group's investor disclosures.

The report came in between PM Modi's US tour

The information being collected by American agencies about the Adani Group after the allegations leveled against it in the Hindenburg Research Report is pointing to increased surveillance against the group. The news that the Adani group is being investigated by American agencies comes at a time when Indian Prime Minister Narendra Modi is on a visit to the US, where he is receiving a grand welcome.

Adani Group Shares hit the bullseye

However, after this news came to light, the shares of Adani Group are seeing a big drop once again. Adani Enterprises' share was up 7.20 percent or Rs. 175 down to Rs. It was trading at 2244. Shares of Adani Transmission fell by 5.31 percent. Adani Ports was trading down 3.92 percent and Adani Power was down 4.19 percent. Adani Total Gas is trading down 3 percent, Ambuja Cement down 3 percent. Adani Group has a market cap of Rs. A decrease of more than 52,000 crores is being observed. Earlier, Adani Group saw a major decline on 9 February 2023 when the group's market cap fell by Rs. 59,538 crore was reduced.

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