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Tidbits, India & Adani Group, Av. Diesel Price, Markets & Rain Days Update 2/6/23


Adani Group is an Indian multinational conglomerate. It was founded by Gautam Adani in 1988 as a commodity trading business. The Group's diverse businesses include port management, electric power generation and transmission, renewable energy, mining, airport operations, natural gas, food processing and infrastructure. In April 2022, Adani Group capitalization moved above the US$200 billion mark. Hindenburg Research LLC is a New York investment research firm with a focus on short-selling stocks, meaning selling stocks before it buys them; like a trader selling wheat in the futures market before he buys it. Hindenburg Research LLC business model is to research publicly-held companies, looking for evidence of mis-management, fraud and corruption. If they find such evidence, they short the stock and then go public with their evidence, motivating stockholders of the target company to sell their shares. Hindenburg then buys their short-sold stock at a substantial discounted price. On January 24th, Hindenburg released their report accusing Adani Group of stock manipulation and unsustainable debt. On the following chart of Adani Group share prices, you can see when Hindenburg started selling before their report was released. So far, the stock value has declined 76% since December and 54% since the Hindenburg report was released. Here the price chart:

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