Hindenburg Research has once again targeted the Adani Group with its latest set of allegations, this time involving Sebi Chairperson Madhabi Puri Buch. In its new report, Hindenburg has alleged that Buch and her husband had investments in offshore entities linked to Adani’s alleged ‘money siphoning scandal’. Adani Group has refuted these claims, calling them “malicious” and “manipulative”, while Buch and her husband have dismissed them as ‘baseless’ and an attempted ‘character assassination’.
The ongoing saga between Hindenburg and the Adani Group has left Indian stock market investors concerned about the potential impact on the market. In 2023, when Hindenburg first made allegations against the Adani Group, the stocks saw a significant sell-off that wiped out $100 billion of their market value. However, the stocks have since recovered and now command a market capitalization above their pre-Hindenburg peak.
Stock market experts believe that the latest allegations by Hindenburg will not have a major impact on the market or Adani Group stocks. Sudip Bandopadhyay, Group Chairman of Inditrade Capital, stated that he does not expect significant selling in the market due to the report. He also believes that Adani Group stocks will recover despite any initial fall.
Avinash Gorakshakar, Head Research at Profitmart Securities, shares a similar view, stating that the market is unlikely to see negative surprises on Monday due to the Hindenburg report. He believes that the allegations are without conclusive evidence and will not be taken seriously by the market. Gorakshakar also highlights the strong financials and improving earnings of Adani Group companies, suggesting that any initial fall in their stocks will likely be temporary.
Overall, experts do not anticipate a major impact on the market or Adani Group stocks due to the latest allegations. The Indian stock market is expected to continue its liquidity-driven rally with stock-specific actions. Investors are advised to consult certified experts before making any investment decisions.
In conclusion, the Hindenburg-Adani saga continues to unfold, with market experts expressing confidence in the resilience of Adani Group stocks. Despite the allegations, the market is expected to remain stable, driven by strong fundamentals and improving earnings of the companies involved. Stay tuned for further updates on this developing story.