Скачать или смотреть Hindenburg 2.0? Adani Enterprises, Adani Ports shares fall after OCCRP report.

Shares of Adani Group companies fell sharply on Thursday after a report suggested that Adani Group’s family partners used ‘opaque’ funds to invest in millions of shares of the conglomerate’s publicly listed companies.

Adani Enterprises, the flagship group of the company, saw its shares decline over 3 per cent in early trade. At around 11:50 am, the shares of the company traded 2.09 per cent lower at Rs 2,460.60 apiece.

Shares of Adani Ports and Special Economic Zone (APSEZ) fell 2.25 per cent to Rs 800.25, while Adani Green Energy shares were down over 3.3 per cent to Rs 937.90.

In addition, Adani Transmission (-1.82%), Adani Wilmar (-1.63%), Adani Total Gas (-1.89%) and Adani Power (-2.54%) also fell sharply as a reaction to the OCCRP report. Meanwhile, shares of Adani Group-owned companies such as NDTV (-1.39%), Ambuja (-2.53%) and ACC (2.53%) also fell sharply during the trading session.

The OCCRP report alleges that Adani Group routed investments in its publicly traded stocks through these hidden Mauritius funds.

This alleged financial maneuvering concealed the identities of supposed Adani family business partners, shedding light on a complex web of financial relationships. OCCRP's role in exposing corruption further amplifies the gravity of these allegations.


The Adani Group issued a swift response, rejecting the OCCRP’s report by terming it as “recycled allegations”.

“We categorically reject these recycled allegations. These news reports appear to be yet another concerted bid by Soros-funded interests supported by a section of the foreign media to revive the meritless Hindenburg report. In fact, this was anticipated, as was reported by the media last week,” Adani Group said.

Despite the strong response from the Adani Group, shares of the conglomerate’s listed companies fell sharply, similar to what had happened after US short-seller Hindenburg Research released a scathing report against the group in January.

US-based short-seller Hindenburg Research accused the Adani Group of improper business dealings, and stock manipulation, citing offshore entities in tax havens. It also said that most of the listed companies of the firms were overvalued.

The Adani Group has strongly dismissed the allegations made by Hindenburg, but could not contain the sharp fall experienced by shares of its companies. At one point, the group had lost a cumulative market valuation of $150 billion.

While shares of the Adani Group’s listed companies have recovered after the Hindenburg report, the combined market valuation of the company took a massive hit.

Given the circumstances, it won’t be surprising if shares of Adani Group companies see a few sessions of cautious trade after the fresh allegations.

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