>From 2014 to (September) 2022 -- over (approx.) eight years of Modi rule at the Centre the wealth of Adani grew twentyfold. Over roughly the same period the Ambani group -- the second-most favoured one -- grew about 4.75 times. Indian GDP grew 1.25 times.
Now some -- almost sudden -- interesting developments, in broadly chronological order. Unexpected Twist in Adani Story (of Rise and Rise)* I. * On Jan. 24, Hindenburg Research group -- an investment research firm based in NYC -- came out with a report that claimed: Today we reveal the findings of our 2-year investigation, presenting evidence that the INR 17.8 trillion (U.S. $218 billion) Indian conglomerate Adani Group has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades. * Gautam Adani, Founder and Chairman of the Adani Group, has amassed a net worth of roughly $120 billion, adding over $100 billion in the past 3 years largely through stock price appreciation in the group’s 7 key listed companies, which have spiked an average of 819% in that period. (Ref.: <https://pdffile.co.in/hindenburg-research-adani-report/> and < https://hindenburgresearch.com/adani/>.) II. It immediately triggers a sharp slide in the value of Adani group shares. AA. < https://indianexpress.com/article/explained/explained-economics/what-is-hindenburg-research-accused-adani-fraud-8404531/ >. BB. < https://groundreport.in/hindenburg-effect-adani-slips-to-7th-position-in-the-worlds-richest-list/ >. CC. < https://www.thehindubusinessline.com/markets/four-adani-listed-companies-on-brink-of-delisting-threshold-hindenburg-research/article66431137.ece >. Also relevant: DD. < https://m.economictimes.com/markets/stocks/news/hindenburg-impact-adani-enterprises-fpo-subscribed-just-1-on-day-1/articleshow/97378542.cms >. III. Adani threatens Hindenburg with legal action: < https://www.moneylife.in/article/adani-threatens-hindenburg-welcomes-legal-action-stocks-continue-to-crash-on-friday/69639.html >. IV. Hindenburg hits back: < https://twitter.com/HindenburgRes/status/1618602694436081668>. V. Congress flags the serious implications for the people of India and demands probe: < https://www.theweek.in/news/india/2023/01/27/hidenburg-report-congress-demands-sebi-rbi-probe-into-adani-group.html >. VI. An interesting comment: < https://www.reddit.com/r/india/comments/10mf54o/adani_bubble_was_going_to_burst_one_day_and_im/ >. VII. Evidently, the modality by which the GVK group was brought to its knees and made to sell the Mumbai airport to Adani for a song cannot be deployed in the instant case. That has made things too tricky for the Adani group. -- You received this message because you are subscribed to the Google Groups "Green Youth Movement" group. To unsubscribe from this group and stop receiving emails from it, send an email to greenyouth+unsubscr...@googlegroups.com. To view this discussion on the web, visit https://groups.google.com/d/msgid/greenyouth/CACEsOZgbz2hVujrP5MXqfDAtN1nQLLQZRQQ-9%3D2EBoq2E1iscA%40mail.gmail.com.
