Jay wrote:vijayk wrote:Adani Enterprises FPO fully subscribed in just three days
This is a major boost in confidence.
Even though some parts of Adani's businesses are not clean, Hindenburg's attack reeked of conspiracy against the Modi admin. Glad attack did not do a lasting damage, at least I hope. Moving forward, other Indian operators will have to take a look at how this was played and have to come up with strategies to insulate them from outside attacks/influences. All in all, I look at this as a stress test for a desi corporation spanning ownership of strategic assets across multiple nation's and politics.
What doesn't kill you will only make you stronger and I hope that's the case for Adani/Indian Corps, especially the one's supporting Modi govt.
Jenab,
The attack (so far) is against India and not against Modi or adani specifically.
The attacks are not done yet. They will come at the country again and again in one form or the other trying to tank the economy, disrupt investor trust and confidence and hopefully force a regime change. It is those promises which has enthused pappu walk his backside off in the foolish Bharat todo yatra
adani's companies are fulfilling a large part of India's foreign policy objectives and setting the narrative for Modi's India in foreign countries by taking over airports and ports in other countries.
In israel's haifa port, adani actually outbid the cheenis and the hans wouldn't have been so happy to lose out to an Indian company.
The man is willing to take business risks in a way that no other Indian company can or is willing to do. All his loans are invested in assets in various forms and in related fields only and his financiers can see that aspect very transparently.
Ameriki companies have done the same earlier but no one had the testimonials to go after them. Now, it is the ameriki deep state itself which is the tip of the spear and also in pushing the BIF brigade. microsoft, amazon, meta, twitter, face book, tiktok have all done exactly the same thing as adani because they have expanded far beyond their borders and are established in other countries as well
If you have any evidence of "some parts of Adani's businesses are not clean" then put it out in public, otherwise don't push such a negative view based on hearsay and rumour.
Indian regulators have not found anything against adani and rumours have been long doing the rounds about the heavy debt that the adani family is allegedly carrying. Creditors have had more than enough time for everyone involved to verify that there is no such debt or leveraging issue.
There is no direct evidence of unlawful intent or activity but at times, like any and all other enterprising big business, they may sail as close to the wind as they are legally permitted.
forget all that nonsense about shell companies. Infrastructure companies always have a separate SPV for each project that they handle, long term supply chains and production lines also may have their own SPVs and these may easily number in the high double digits of SPVs linked to each business, and these guys have multiple business and companies to handle and almost all are in the infrastructure space and many routinely operate across borders. ALL details about SPV, dealing with companies owned by family members, friends or relatives have to be mandatorily disclosed in the balance sheets and such inputs are rigorously audited ever since the right royal NPA mess created by RRR, raincoat, white waisty and the abrahamic mafia that resulted in such a financial mess
BTW, hindenberg has not really disclosed anything new or even unknown to a lot many in the Indian bourses/govt/regulators. 99% of their inputs are sourced from the multiple adani company's balance sheets itself and open source information but slyly garbed in such a way that it appears as a "researched" revelation.
Read their report of accusations against adani, it is a real eye opener, filled mostly with bad politics, biased opinions, false innuendos, and baseless rumour
The timing and focus of the attack is revelatory by itself and all banks and creditors like LIC have publicly declared their verifiable holdings in adani companies and none of them have taken a hit, because they have lent funds on assets and not on adani companies' shares
Another damning indictment of short-seller @HindenburgRes by US judge.
https://www.reuters.com/legal/governmen ... 023-01-11/
Jan 11 (Reuters) - U.S. District Judge Paul Engelmayer of Manhattan says courts shouldn't believe everything they read in shareholder class actions — especially when allegations are based on reports from short sellers.
Short sellers are not unbiased narrators, Engelmayer said in a ruling on Monday in a securities fraud class action against sports betting company DraftKings Inc. When they publish damning revelations about publicly traded companies, the judge noted, it's usually because they are hoping to drive down the company’s share price so they can cover their bets.
That conflict means courts must be cautious about assessing assertions from short sellers, particularly when the short seller has attributed key information to unnamed informants, Engelmayer wrote. And if shareholder lawyers cannot independently verify the short seller’s accusations, Engelmayer said, courts should be even more wary.
Engelmayer, as you've probably guessed, dismissed the class action against DraftKings, concluding that shareholders’ case was fatally flawed because it relied almost entirely on assertions from a 2019 Hindenburg Research LLC report that pushed DraftKings’ share price down about 4.2%.