Allegations preposterous, irrational and absurd: Adani Group
The Adani Group on Thursday unequivocally rejected and denied baseless allegations regarding claims by US short-seller Hindenburg Research that Swiss authorities have frozen its funds.
Slamming the latest Hindenburg allegations as not merely frivolous but cheap antics, market experts on Monday said the US short-seller has nothing substantial to talk about even 18 months later.
Sushil Kedia, Founder and CEO, Kedianomics, said that the short-selling firm Hindenburg was exposed 18 months ago when they made big claims about the Adani Group and the Supreme Court-monitored investigation found nothing.
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SEBI also issued a show-cause notice to the research firm for violating securities market rules.
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“Now 18 months later, Hindenburg suddenly comes and claims on social media that they have something big about India. The aim was to destroy the Indian stock market by breaking the trust of retail investors,” Kedia told IANS.
The expert further said that the real intent is to “try and break the sentiments of the retail Indian investors” who have been investing with confidence in the capital markets.
Kedia said that just anyone cannot walk in and start damaging the integrity of our institutions.
“Explain it. Corroborated with data, and go to a court and file a complaint. But to utilise media to create mass hysteria and mass panic is clearly a case of crime against the people of India,” he said.
The new Hinderburg allegations against the SEBI Chairperson failed to impact the Indian stock markets on Monday.
According to Vikram Kasat, Head-Advisory, PL Capital at Prabhudas Lilladher, Adani stocks showed resilience, with no significant impact from the recent Hindenburg allegations.
The Indian market concluded relatively flat, with its initial path being eclipsed by continuation of the Hindenburg-SEBI saga.
However, the market tried to brush away these noises, taking positive cues from global markets, said experts.
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