Adani Group Stocks Soar Up To 7% After US Short Seller Hindenburg Shuts Down (Image:X/gautamadani)
The shares of Adani Group companies surged up to 7% on January 16, 2025, after Hindenburg Research, the US-based short-selling firm announced its closure today.
Adani Green Energy led the surge with a nearly 6% jump, followed by Adani Ports and Adani Power which rose over 4% each. Other prominent names like Adani Enterprises, Adani Energy Solutions, ACC, Ambuja Cements, and NDTV also gained 3-4%.
Hindenburg Research had previously published coruscating reports on the Adani Group, accusing it of “pulling the largest con in corporate history” and wiping billions off its market value.
The founder of Hindenburg Research, Nate Anderson stated on the company’s website that he had decided to disband the firm after completing its pipeline of ideas. This move has bolstered sentiment for Adani Group stocks with all group stocks trading in the green.
Also, read| Hindenburg Research To Be Disbanded: Founder Nate Anderson
Hindenburg Research gained prominence in India after publishing its report on the Adani Group in early 2023. The report accused the group of brazen stock manipulation, leading to a sharp selloff in its market value. However, the group later recovered most of its stock market losses as the accusations failed to hold ground.
Through meticulous investigations, the firm revealed alleged fraud, mismanagement, and financial irregularities, leading to significant legal and financial repercussions for its targets.
In addition to targeting the Adani Group, Hindenburg Research had also targeted the chief of India’s market regulator, Madhavi Puri Buch and her husband in 2024.
Also, read| “Preposterous, Irrational, Absurd”: Adani Group On Hindenburg Allegations Of Swiss Banks Fund Freeze
The firm’s investigations led to nearly 100 individuals being charged civilly or criminally, including billionaires and oligarchs. “We shook some empires that we felt needed shaking,” Anderson said, adding that their work highlighted the possibility of achieving impact regardless of one’s background.
Nate Anderson attributed the success of Hindenburg to his small but highly skilled team. “One at a time, and without a clear plan, we built a team of 11 incredible people. They are all smart, focused, and fun to work with. Little to no ego. When it comes to this field, they are ruthless assassins, capable of world-class work.”
While the decision to disband wasn’t driven by external pressures, Anderson explained that it stemmed from personal and professional reflections.
“Someone once told me that at a certain point, a successful career becomes a selfish act. The intensity and focus have come at the cost of missing a lot of the rest of the world and the people I care about. I now view Hindenburg as a chapter in my life, not a central thing that defines me,” he added.
