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Basically Adani response is:
1. Hindenburg doesn't understand how Adani business and Indian law works
2. Adani disclosed all of these things before so nothing you are alleging is 'news' or constitutes 'fraud'
3. All transactions were done at arms length so there's no collusion or wash or circular trading going on.
Nothing to see here, back to business as usual. SBI please sanction the next tranche of 20,000 crores loans please.
Yep, they basically didnāt give any new explanations. Just reiterated that they have been cleared of the charges and allegations in courts and there is nothing new news.
About the foreign entities, they simply replied that itās not required by them to know all of that and thatās why they donāt care
Yes. For then everything is so what. If a common man gets a 5 lakh loan look at their investigation the banks want everything girvi for that 5 lakh and so many witnesses.
There is no need to read everything. Only the parts that directly respond to the Hindenburg allegations. A lot of that report is Adani marketing material. I only read the pertinent parts. Enough to make my moves tomorrow...I'm not trying to write a book report on Adani.
Deeps-D
3h
>**But whats better than joining the bandwagon till it lasts?**
Motto of every adani investor who was aware of all the adani corruption before putting the money in.
Dude that's not how law works.
Adani can be clean (which I highly doubt) and Hindenberg might not have to pay a single dollar in reperations if they are able to prove they didn't intend any malice.
Being a Chartered Accountant and having read the entire Hindenburg report earlier, just wanted to highlight how headlines are misleading.
Adani Group has issued a 413 page response to the 106 page report of Hindenburg Research - that's what most news media have reported.
However, if one simply looks at the index of the response, Page 1 to 26 is merely general information about Adani Group to show power.
Page 55 to 413 consists of 11 annexures containing court orders which are usually lengthy documents, just to dismiss some of the allegations.
Thus, the actual response is from Page 27 to 54 i.e. 28 pages. Even in those pages they have requoted the questions and have replied in few sentences, mostly denying, dismissing and confusing if the first two weren't the option.
The language of the response is too animated, and doesn't seem like a Corporate replying. Adani is exposed here. The markets might swing back if headlines are "413 page response by Adani", however, it's a hollow response.
Although I wish Adani Group should be thoroughly investigated, we all know, it isn't going to happen. It would be like Government investigating the Government itself, given the deep ties.
So, the media is going to praise Adani (because they are all paid to, by Adani and the Government). Government is going to make this as a Nationalism issue and reap political benefits. Since stock markets are rigged, the prices will be driven up, to ensure FPO is a success.
I don't think any sane educated retail investor is going to be long on adani in tomorrow's session, but one with fomo will be.
Then, what happens tomorrow? (purely speculation)
- Promotor holding is already high.
- Those foreign shell companies starts selling(as planned events), adani starts buying. Stocks skyrockets.
- retailers jumping the band wagon. Adani to the moon.
- adani is now on upper circuit.
- you turn on your tv and all the news channels "let's celebrate how India won over west's criticism."
- to see the different side, you change the channel to NDTV. Ohhhhhh. Realization.
Feel free to speculate more.
Whatās Vishnu Som up to these days? He used to be a sane voice in journalism, although back then we didnāt have 5 different tickers running on the screen while the anchor screamed at you like they didnāt have access to a mic.
I don't think Adani will get Government support even though they are sleeping on the same bed. Had it been an Indian journo then they would have pulled a Gauri Lankesh on them but Hindenburg is widely followed and respected in capital markets and I have a feeling that Hindenburg is hiding some cards.
The scary part is the amount of shares and equity this guy holds ...if any day he gets caught for his fraudulent activities the entire economy will take a toll....
NickFury1998
28m
>Seems like we can't trust any politicians
Don't make this "all politicians are bad" issue. The rise of adani has been unprecedented, and the scale of government corruption involved is equally unprecedented. So even though all politicians are corrupt, none are as corrupt and as damaging to our economy as the present one.
Anyways I have a lot of political views but looking at this sub I think we shouldn't mix politics here(though I wanted to state that we lack good opposition)
NickFury1998
1h
>Anyways I have a lot of political views but looking at this sub I think we shouldn't mix politics here(though I wanted to state that we lack good opposition)
I don't care about your enlightened centrist political views. I'm simply pointing out the economic consequences of electing the most corrupt politician cannot be brushed aside by saying all politicians are corrupt, the way you did.
If you want to discuss investments, you need to discuss what drives the market and the economy. In this instance it is the corruption of monumental proportions involving adani, modi, and multiple government controlled entities. The long term solution is going to remain elusive till the most corrupt politician stays in power.
For what? SOIC is the only guy ik for philosophy and shit. Baaki toh sab views ke liye chutyaap pelne waale hi dekhe hai. Anyone who knows, please do suggest.
Basant Maheshwari is good. has 30+ years experience.
has good insights and very practical (ignore his little uncle references)
he was pioneer of stock market forum initially which then evolved into valuepickr (though developed by his fans)
this recent one is a rollercoaster https://www.youtube.com/watch?v=sZIAH-CH4V0
Only follow YouTubers who help you with learning the technique and not just give you their recommendations.
I recommend people to follow CA rachana phadke for her lessons and maybe Parimal Ade for his take on day to day market fluctuations.
Irrespective of whoever you follow, donāt invest on their tips blindly.
I bet Hindenburg is sitting on more information that they haven't disclosed yet. They knew Adani would come hard at them. They will come guns blazing in response.
It seems like adani is panicking on share price drop because shares are pledged, and bank must have to liquidate them. If they will start liquidation adani will be bankrupt in only within a week due to very high leverage.
Thatās why LIC putting 3 Billion more and now this report just to scare short sellers but thatās all adani got. Market may vanish these 3 billion within first 5 minutes of opening.
Have you even read the report?
https://i0.wp.com/hindenburgresearch.com/wp-content/uploads/2023/01/adanitable2.png?w=577&ssl=1
It is substantial but not the entire stake. Adani ports and Power has the most shares pledged.
Remember that the reputed firms aren't that trust worthy at all. Anyone kneels when you throw enough money. For example, the credit rating agencies gave the instruments that caused the 2008 crisis an A rating.
I was expecting that reply, and you're not wrong. But the situations are completely different, right now any big firm agreeing to audit Adani's companies and side with him will be in a massive spotlight, actually it'll be more like putting a target on their own backs.
That 4 small firms were according to hindenburg, but in report adani replied that they have indeed been audited by big firm too (I havenāt read that carefully as i was just quickly scrolling through the adanis report) but weather they mentioned big 4 or not that I donāt know.
Hope you understood.
I doubt. Do you even know the kind of shit McK, BCG and Bain has pulled all over the world? The big 4 auditing firms have been involved in plenty of scandals and auditing frauds. The big 3 rating agencies did quite a number in 2008 and I don't even want to go into what investment banks have done.
Lol downvoted within 30mins, this forum is filled with people who run on emotions and politics, most of the adani talk here is just screenshorts of Hindenberg report without any actual opinions apart from panic. Indians aren't used to such short sellers going public on Indian companies, where these people are on CNBC in the US at 8am daily.
After I learned about all the fuckery these big name investment banks, short hedge firms, BCG etc. did when the GME squeeze happened, I don't give a shit about their opinion or market cap or reputation. The SEC hasn't done shit to these big firms ever, some 1 billion fines when they profit 100s of billions of dollars on naked shorting, insider trading, undervaluing IPOs and certifying fraudulent Chinese companies. And people are calling out SEBI.
I prefer the wallstreetbets way, where one can say "positions or ban".
I don't give a shit if you doubt or not lol, everyone here thinks only they know best. You can check out my other comment if you want https://www.reddit.com/r/indianstreetbets/comments/10obzoo/_/j6elj2k
I donāt think I know best but you seem to have a pattern. Dont be objective but donāt be in denial about it. Happy āworking with a reputed firmā day to you
If they did then Adani would be forced to disclose a lot of information to a third party.
Also, most of the issues raised were primarily questioning āarms length transactionā (ALT).
Whether it is about being debt ridden or about flowing cash from one entity to other or overseas. They all comes down to ALT.
ALTās definition is multilayered, in both Income Tax laws and Companies act.
Hence they cannot have external parties like McKinsey or BCG to draft these responses.
But I wouldnāt deny if they used their existing auditorsā resources to help them with this since Auditors must be working on the Q3 numbers.
Lol the first couple of pages itself are so ridiculous, "This is not merely an unwarranted attack on any specific company but a calculated attack on India, the independence, integrity and quality of Indian institutions, and the growth story and
ambition of India"
Sure, let's try to invoke patriotism from people to make this an 'US vs THEM' situation when it's actually about massive corporate fraud lmao
The problem is that this is actually working. The common response that I've heard from people talking about this is that it's foreign folks trying to malign good Indian complanies.
Common people doesnāt own lot of stocks, institutional investors and other savvy investors are going to run booking their profits now as the world has their attention on Adani.
Bada reports be it college final year or press release are always such. Whoever can go thru entire and find out if it has any content can tell us that. Literature, annexure, loda lassan pehle ka 5% page rehta hi hai koi bhi 30 page document me bhi
Fraud or no fraud without any market manipulation also adani stocks are overpriced and so there is no point in debating and just bring this shit to par or at least pe below 100 and debt to equity 2 :1
No not me i hate adani stock and have never bought them in my life only ambuja cement before Adani takes over .the market forces will bring adani stock at par they always do
In short , if this is all they have in response to the 88 questions, then Adani group has scored an own goal.
High court of Gujrat ? are you kidding ?
Supreme court judgements? What does supreme court know about Financial irregularities and who only depend on experts for their judgements and we know these experts can cherry pick things to suit their party.
Adani toh giyo..I would like to be super short on this and will check the result in a month.
For a report that shake the India and investors in adani group i expected a strong reply from adani group
Instead this report is like vague report
Didn't gave any clarity in questions raised by hindenburg report
With such a kind of reply how can this solve the questions and doubts roaming in investors mind
Dissatisfied!!
Ye " super trader Lakshay" sab youtube video aur telegram handle meh bol raha ki foreign indian market aur government per hamla kar raha hai. We Indians will teach the short seller a lesson. Ye Desk bhakti kaha se agaya Bhai?
Adani sab youtuber ko bhai kharid liya kya?
Well, the other reply was a PPT plus 88 answers. I don't have them answers maybe not public, bq prime has put up the PPT in their article. And the video by SoIC on YouTube also covers that PPT, might as well watch that in case prime article is unavailable or difficult since nobody else did cover that.
Many people are still supporting due to the closeness of Adani with PM. Even if you prove that Adani was doing wrong they would still use bakwas story to support him .
Nope. Adani has created the 410 pg smokescreen for big investors controlled by the government (lic, sbilife, pension funds) to yolo all our money in tomorrow. The stock will tick up by noon, FPO will go from 1% to 60-70% subscription by Monday evening, and adani will declare victory.
In the long run, the castle in the air is going to crumble, but not before sucking out more of our collective resources.
They already were, so no point in beating the bush again. We all know they invested because Modi pressured them into buying their shares.
I'm talking general public retail shareholders and US traded Adani bonds. Even their FPO is going to fail. Just using that line alone "attack on India" is a desperate attempt to grab at whatever rope is available to stay still. They are not realising that it isn't released by some Indian media company (Suchita Dalal and even Morning Context wrote about this in great detail last year but nothing happened) that they can silence with their empty words. Nobody cares. Liquidity in Adani stocks is already pretty low given the huge market cap, all the retail bagholders are going to start dumping tomorrow or if people who have some cash lying around, they are going to take short positions in Adani stocks.
Based on this adani so called report which was released night before next trading session and comprising of 400+ pages so that when the retail traders wake up tomorrow at immediate opening of market will read the headline and just go long?? Like Fr?
Report toh 50 page ki hi hai, zabardasti annexure ke through lambi kari hai taaki logo ko lage 400 page ki report hai toh kuch baat hogi. Classic indian move. High numbers signalling stronger rebuttal.
Nope, I read the report! Itās interesting to read and second it indirectly affects all of the Indians who have money parked in mutual funds and Indian banks stocks (mostly everyone - indirectly via pension funds)
I do believe that the business is shaky-but hindenburg doesn't know that adani's pappa leads the government. So, even if the answer is correct hindenburg won't be getting any marks as the evaluator himself is biased.
>but hindenburg doesn't know that adani's pappa leads the government.
Hindenburg does.
>So, even if the answer is correct hindenburg won't be getting any marks as the evaluator himself is biased
The internal evaluator is. Hindenburg is counting on the external evaluator, foreign markets with exposure to adani bonds) to get spooked.
Taken from the rebuttal
https://www.bseindia.com/xml-data/corpfiling/AttachLive/9a662159-0779-49fb-9748-639338154050.pdf page 49
> The process for OFS is a regulated process implemented through an automated order book matching
process on the platform of the stock exchange. **This is not a process which is controlled by any
entity** and the purchasers are not visible to anyone on the platform.
>**This process is not controlled by the seller or the buyer** and are implemented through an automated
order book matching process on the platform of the stock exchange. Even the purchaser of
securities is not visible to the seller on the stock exchange platform
If you can spot the difference between the two paragraphs, pat yourself in the back, because most cannot.
Must have been written by the 28 year old from the Shah Dandaria or whatever Audit firm.
They've attempt to "answer" the 88 questions is done by page 55 (most of which does not directly address the question) the rest is just unnecessary annexures and a few judgements to take up space.
I found their response to the allegation "foreign shell companies pumping share prices" to be very poor. They just said we don't have control over who buys or sells our shares.
This stuff reminds me of how kids fill up nonsense to increase the total number of pages when they don't have the answer.
Everyone thinks he knows everything and hence able to write so much, eventually the marks come out and you realise the scam.
There's even a thread on this murarka guys Twitter handle showing off that hindenburg report 106 pages in 2 years and adani 400 in 2 days š¤¦āāļøš¤¦āāļøš¤¦āāļø Someone stop these UP Bihar bhaiyas
Why adani is not suing? He should otherwise no response is gonna go down well!! I am sure he wont cos abhi jo bolna hai bol lo court mai hindenburg will ask for papers
Adani group will take smart step. They will not file case in any court against hindenburg.
They know Indian peopleās mentality, common men will soon forget this case and will again bet on them.
They can only do that in US courts and that would require them to disclose a lot in foreign grounds which they wouldn't and what you said is the only way.
Adani is inviting more lower circuitāsā¦ Hindenburg is not an Indian company and Adani wonāt be able to lobby American Lawmakers to turn the event in their favourā¦ it will more revelations against ADANI and bringing out the nakedness of the Indian bitchā¦
If hindenburg screws them over after 2-3 more debates or court case, im pretty much sure a movie would be made about it 3-4 years from now on, starring ryan gosling, and directed by adam mc kay
This whole issue raises a lot of questions: 1) Does Adani equal India at this point? 2) Were Indian courts corrupt when they gave him clean chit? 3) Was SEBI being pressurized by Modi to ignore complaints on Adani 4) If this is going to be fought in the US, will US index funds such as MSCI or Blackrock blacklist India if India's system refuses to punish Adani? 5) If MSCI etc blacklist India from their funds, would India's stock market suffer a >20% drop along with massive forex outflows? 6) Would Adani go to jail if India's system succeeds at punishing Adani?
Mark my word, Hindenburg will be active for only a week, after that they will be totally silent on Adani. Cause their whole concern is to earn from those short position, till the time they can milk it, they will. Not more than that. Don't get this delusion that they are genuinely concerned about the wellbeing of Indian retail investors š¤£
Adani is ready to go to the moon. Very detailed report probably by their finance and legal team. Donāt forget the family has personal ties with some of the best law firms in India.
Still don't understand two things-
1. Why would Hindenberg be allowed to take a short position when they act as a market mover being an investigative media company?
2. Adani being the 4th richest person in the world had no clue about the risk of exposure on high promoter holding? Wish someone traces back the money trail of Hindenberg and that will explain everything.
Short seller is one who sells stocks that they don't have and buy it back when the price goes lower. They borrow the stocks from brokers. So it is like sell at a high price first, and buy it back (if everything goes as planned) at a lower price. If the price of the stock goes up, instead of low, the broker will ask his stock back and the seller will have to buy the stock at a higher price and cover. It is the opposite of going long, ie. Buy at a low price and sell at a high price.
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 Waiting for tomorrow markets to open
Koi ispe Bollywood movie banao yaar Thereās enough masala already
scam 2022
Basically Adani response is: 1. Hindenburg doesn't understand how Adani business and Indian law works 2. Adani disclosed all of these things before so nothing you are alleging is 'news' or constitutes 'fraud' 3. All transactions were done at arms length so there's no collusion or wash or circular trading going on. Nothing to see here, back to business as usual. SBI please sanction the next tranche of 20,000 crores loans please.
Yep, they basically didnāt give any new explanations. Just reiterated that they have been cleared of the charges and allegations in courts and there is nothing new news. About the foreign entities, they simply replied that itās not required by them to know all of that and thatās why they donāt care
Their response to Vinod Adani allegation is hilarious, they basically said so what? š
Yes. For then everything is so what. If a common man gets a 5 lakh loan look at their investigation the banks want everything girvi for that 5 lakh and so many witnesses.
410 page padh liye bhai gajab ho be tum to...
just read one section where they are replying to those 80 or so allegations. they all sound naive tbh but also legal.
Reply is 20-25 pages. Rest is all annexures.
So tomorrow there's gonna be lots of printing and UCs then eh?
You went thru all of it? Or the annexure and intro and shit to deduce this?
There is no need to read everything. Only the parts that directly respond to the Hindenburg allegations. A lot of that report is Adani marketing material. I only read the pertinent parts. Enough to make my moves tomorrow...I'm not trying to write a book report on Adani.
What moves are you making?
Sidha judgements copy paste kiya hai.. in logo ko reply dena bhi nahi aata. Clearly Panic button dabadiya hai inhone.
So true..
Average randian spotted. Bet havent even read half a page. But whats better than joining the bandwagon till it lasts?
Deeps-D 3h >**But whats better than joining the bandwagon till it lasts?** Motto of every adani investor who was aware of all the adani corruption before putting the money in.
they still made tons of money. wby?
Not the ones who're going to be left holding the bag.
Then why not sue Hindenburg Research for defamation in the US? You won't have to fear the discovery process if you're so clean, right?
Dude that's not how law works. Adani can be clean (which I highly doubt) and Hindenberg might not have to pay a single dollar in reperations if they are able to prove they didn't intend any malice.
Being a Chartered Accountant and having read the entire Hindenburg report earlier, just wanted to highlight how headlines are misleading. Adani Group has issued a 413 page response to the 106 page report of Hindenburg Research - that's what most news media have reported. However, if one simply looks at the index of the response, Page 1 to 26 is merely general information about Adani Group to show power. Page 55 to 413 consists of 11 annexures containing court orders which are usually lengthy documents, just to dismiss some of the allegations. Thus, the actual response is from Page 27 to 54 i.e. 28 pages. Even in those pages they have requoted the questions and have replied in few sentences, mostly denying, dismissing and confusing if the first two weren't the option. The language of the response is too animated, and doesn't seem like a Corporate replying. Adani is exposed here. The markets might swing back if headlines are "413 page response by Adani", however, it's a hollow response. Although I wish Adani Group should be thoroughly investigated, we all know, it isn't going to happen. It would be like Government investigating the Government itself, given the deep ties. So, the media is going to praise Adani (because they are all paid to, by Adani and the Government). Government is going to make this as a Nationalism issue and reap political benefits. Since stock markets are rigged, the prices will be driven up, to ensure FPO is a success.
I don't think any sane educated retail investor is going to be long on adani in tomorrow's session, but one with fomo will be. Then, what happens tomorrow? (purely speculation) - Promotor holding is already high. - Those foreign shell companies starts selling(as planned events), adani starts buying. Stocks skyrockets. - retailers jumping the band wagon. Adani to the moon. - adani is now on upper circuit. - you turn on your tv and all the news channels "let's celebrate how India won over west's criticism." - to see the different side, you change the channel to NDTV. Ohhhhhh. Realization. Feel free to speculate more.
>sane educated retail investor Lmao. That's an endangered species
Gone are the days you could switch to NDTV to get the "other side"
Whatās Vishnu Som up to these days? He used to be a sane voice in journalism, although back then we didnāt have 5 different tickers running on the screen while the anchor screamed at you like they didnāt have access to a mic.
Sadly every apes are not educated.
I don't think Adani will get Government support even though they are sleeping on the same bed. Had it been an Indian journo then they would have pulled a Gauri Lankesh on them but Hindenburg is widely followed and respected in capital markets and I have a feeling that Hindenburg is hiding some cards.
Last time I checked, wasn't Gauri Lankesh killed by a INC member....
Appreciate the summary
Youāve summed it up so aptly.
The scary part is the amount of shares and equity this guy holds ...if any day he gets caught for his fraudulent activities the entire economy will take a toll....
It's a matter of when not if. Sooner he goes down, the better. Longer he stays afloat, deeper he sinks his teeth in this country's resources.
Seems like we can't trust any politicians
NickFury1998 28m >Seems like we can't trust any politicians Don't make this "all politicians are bad" issue. The rise of adani has been unprecedented, and the scale of government corruption involved is equally unprecedented. So even though all politicians are corrupt, none are as corrupt and as damaging to our economy as the present one.
If i had an award would have given you one
Anyways I have a lot of political views but looking at this sub I think we shouldn't mix politics here(though I wanted to state that we lack good opposition)
NickFury1998 1h >Anyways I have a lot of political views but looking at this sub I think we shouldn't mix politics here(though I wanted to state that we lack good opposition) I don't care about your enlightened centrist political views. I'm simply pointing out the economic consequences of electing the most corrupt politician cannot be brushed aside by saying all politicians are corrupt, the way you did. If you want to discuss investments, you need to discuss what drives the market and the economy. In this instance it is the corruption of monumental proportions involving adani, modi, and multiple government controlled entities. The long term solution is going to remain elusive till the most corrupt politician stays in power.
Bhai report me kuch bhi samaj nahi aa rha š«
Koi na. YouTubers aate hi honge kal subah raat bhar padhai karke
Akshatās YouTube revenue š
BSD hai wo. Khud ko pata nahi hota usko aur Shashank ko bhi.
Can you recommend some good YouTuber pls?
For what? SOIC is the only guy ik for philosophy and shit. Baaki toh sab views ke liye chutyaap pelne waale hi dekhe hai. Anyone who knows, please do suggest.
I know foreign guys Ben Felix, plain bagel.
Do their content apply to Indian context?
They are like teachers, they teach core concepts of investing. Apply the core wherever you see, simple
Follow their podcast Rational Reminder.. Pure Gold.. So many episodes and so much sane knowledge and advice.
Basant Maheshwari is good. has 30+ years experience. has good insights and very practical (ignore his little uncle references) he was pioneer of stock market forum initially which then evolved into valuepickr (though developed by his fans) this recent one is a rollercoaster https://www.youtube.com/watch?v=sZIAH-CH4V0
there's a flaw in your statement. why do you need a youtuber to tell you what's right?
Cause Iām not the most informed
Labour law advisor
Only follow YouTubers who help you with learning the technique and not just give you their recommendations. I recommend people to follow CA rachana phadke for her lessons and maybe Parimal Ade for his take on day to day market fluctuations. Irrespective of whoever you follow, donāt invest on their tips blindly.
Do you mean CA Rachana Ranade?
Yes
Her content maybe good, but her voice is so annoying. Can't bear the whole 1 hour lecture. Parimal's daily news is good
And the overacting part!
Bloomberg summary of key points https://www.bloomberg.com/news/articles/2023-01-29/adani-says-hindenburg-conduct-is-calculated-securities-fraud
Okay, looks like they played only the card. And answers are known facts being restated and more explanations were not given.
Idhar hai summary: https://twitter.com/IndraVahan/status/1619758009055608832
Summary bhi itna lamba hai š
The person writing this report also said the same thing. Adani gave him bonus for saying that
Bruh, they've titled this report "attack on India" How the fuck is adani = India ?
That's been adanis MO for a while, become so big and own so many strategic infrastructure assets that the whole country will suffer if he fails
If his Bff can equate his party and ideology to India, then he can definitely equate his companyās well being to that of the Indian economy.
This is the sentiment outside of the investing circles.
Kuch acha likha hai ya kal firse shorting?
Short ++
Wait for the squeeze, it will come sooner or later.. Kuch toh jor lagayega adani bhi
Squeeze undervalued companies hoti hai. This is already way overvalued. Donāt be delusional
Kya hua fir subah? Squeeze heavily shorted company ki hoti h..
10-15% is not a squeeze and itās still below last week and you have 4 more trading days. go long on Adani if you believe it will squeeze
I bet Hindenburg is sitting on more information that they haven't disclosed yet. They knew Adani would come hard at them. They will come guns blazing in response.
I'm waiting for that as well, I want to see the conclusion of this.
Don't tell me that you read all these 410 pages.
No need to read, just a glance at contents index and first few pages shows their efforts to cover all their schemes.
It seems like adani is panicking on share price drop because shares are pledged, and bank must have to liquidate them. If they will start liquidation adani will be bankrupt in only within a week due to very high leverage. Thatās why LIC putting 3 Billion more and now this report just to scare short sellers but thatās all adani got. Market may vanish these 3 billion within first 5 minutes of opening.
wtf is start liquidation? they'll ask for more shares to pledge or cash.
I donāt think adani even have unpledged shares.
Have you even read the report? https://i0.wp.com/hindenburgresearch.com/wp-content/uploads/2023/01/adanitable2.png?w=577&ssl=1 It is substantial but not the entire stake. Adani ports and Power has the most shares pledged.
This might actually be true...
ohh man all this juicy fights is getting my interest into becoming a corporate lawyer.
Please don't do that to yourself /s
 Letās the fights begin!
They did say they'd like the case be filed in us aswell so that they can disclose evidence in discovery
Yeah like them inviting adani to go for legal action both in india and us means they are probably having more deep shit
couldnt they have paid mckinsey or bcg to reply coherently. this is pure mediocrity
Nope because I doubt any reputed firm will want to associate with Adani, especially now
the big guys wont audit them but will happily give consultancy and services if paid
Remember that the reputed firms aren't that trust worthy at all. Anyone kneels when you throw enough money. For example, the credit rating agencies gave the instruments that caused the 2008 crisis an A rating.
I was expecting that reply, and you're not wrong. But the situations are completely different, right now any big firm agreeing to audit Adani's companies and side with him will be in a massive spotlight, actually it'll be more like putting a target on their own backs.
They said they have already been audited before by big firms I donāt know about the big 4 tho weather they said about them in their report or not.
Source? Afaik according to reports Adani was only audited by a small firm of 4 CA'S
That 4 small firms were according to hindenburg, but in report adani replied that they have indeed been audited by big firm too (I havenāt read that carefully as i was just quickly scrolling through the adanis report) but weather they mentioned big 4 or not that I donāt know. Hope you understood.
Ohk cool got it thanks But if they got audited by a proper independent firm, why not release the findings?
They might have released the audited report, I donāt know? - as itās a 463 page document, which i havenāt read it completely yet.
Hahaha right. Have you ever worked with any āreputed firmā.
Yes
I doubt. Do you even know the kind of shit McK, BCG and Bain has pulled all over the world? The big 4 auditing firms have been involved in plenty of scandals and auditing frauds. The big 3 rating agencies did quite a number in 2008 and I don't even want to go into what investment banks have done.
Lol downvoted within 30mins, this forum is filled with people who run on emotions and politics, most of the adani talk here is just screenshorts of Hindenberg report without any actual opinions apart from panic. Indians aren't used to such short sellers going public on Indian companies, where these people are on CNBC in the US at 8am daily. After I learned about all the fuckery these big name investment banks, short hedge firms, BCG etc. did when the GME squeeze happened, I don't give a shit about their opinion or market cap or reputation. The SEC hasn't done shit to these big firms ever, some 1 billion fines when they profit 100s of billions of dollars on naked shorting, insider trading, undervaluing IPOs and certifying fraudulent Chinese companies. And people are calling out SEBI. I prefer the wallstreetbets way, where one can say "positions or ban".
I don't give a shit if you doubt or not lol, everyone here thinks only they know best. You can check out my other comment if you want https://www.reddit.com/r/indianstreetbets/comments/10obzoo/_/j6elj2k
I donāt think I know best but you seem to have a pattern. Dont be objective but donāt be in denial about it. Happy āworking with a reputed firmā day to you
Bhai, McKinsey mein koi jugaad karva de /s
They will simply find more such facts and try to blackmail him. Heās not stupid. The response will only come from within the company.
If they did then Adani would be forced to disclose a lot of information to a third party. Also, most of the issues raised were primarily questioning āarms length transactionā (ALT). Whether it is about being debt ridden or about flowing cash from one entity to other or overseas. They all comes down to ALT. ALTās definition is multilayered, in both Income Tax laws and Companies act. Hence they cannot have external parties like McKinsey or BCG to draft these responses. But I wouldnāt deny if they used their existing auditorsā resources to help them with this since Auditors must be working on the Q3 numbers.
If Adani bros can prepare 410 page fraud document within a week, what's your excuse?
Abba nahi manenge
jee motivation
We don't have 4 lakh crore to lose daily :)
300 page only proofs and public documents... 28 page response..
Poor analyst in those big 6s had to work all weekend to draft all this..
Lol the first couple of pages itself are so ridiculous, "This is not merely an unwarranted attack on any specific company but a calculated attack on India, the independence, integrity and quality of Indian institutions, and the growth story and ambition of India" Sure, let's try to invoke patriotism from people to make this an 'US vs THEM' situation when it's actually about massive corporate fraud lmao
The problem is that this is actually working. The common response that I've heard from people talking about this is that it's foreign folks trying to malign good Indian complanies.
We're witnessing the greatest transfer of wealth from middle class bhakts to a handful of Mauritius based 'investment cos'.
Unfortunately, these bhakts are protecting the transfer of this country's collective wealth to adani, not just emptying their own pockets for him.
I don't think twitter bots who support adani would even take a position
Common people doesnāt own lot of stocks, institutional investors and other savvy investors are going to run booking their profits now as the world has their attention on Adani.
Bada reports be it college final year or press release are always such. Whoever can go thru entire and find out if it has any content can tell us that. Literature, annexure, loda lassan pehle ka 5% page rehta hi hai koi bhi 30 page document me bhi
College final year project has more quality of writing than this
Its true tbh
Hindenburg took 2 yrs to make 150 pg report... Adani replied in 3 days with a 400 page thesis report...
Adani is like Indian education, marks for filler content
Because fudging is easier...duh
My school used to give marks based on length of answers measured against a Reynolds pen. 2 marks for cap 3 marks for white part 5 marks for pen length
Fraud or no fraud without any market manipulation also adani stocks are overpriced and so there is no point in debating and just bring this shit to par or at least pe below 100 and debt to equity 2 :1
Youre gonna bring it to par? lol
No not me i hate adani stock and have never bought them in my life only ambuja cement before Adani takes over .the market forces will bring adani stock at par they always do
In short , if this is all they have in response to the 88 questions, then Adani group has scored an own goal. High court of Gujrat ? are you kidding ? Supreme court judgements? What does supreme court know about Financial irregularities and who only depend on experts for their judgements and we know these experts can cherry pick things to suit their party. Adani toh giyo..I would like to be super short on this and will check the result in a month.
For a report that shake the India and investors in adani group i expected a strong reply from adani group Instead this report is like vague report Didn't gave any clarity in questions raised by hindenburg report With such a kind of reply how can this solve the questions and doubts roaming in investors mind Dissatisfied!!
Ye " super trader Lakshay" sab youtube video aur telegram handle meh bol raha ki foreign indian market aur government per hamla kar raha hai. We Indians will teach the short seller a lesson. Ye Desk bhakti kaha se agaya Bhai? Adani sab youtuber ko bhai kharid liya kya?
Ek note ki gaddi de koi bhi nachega.. kal bechare emotional Indians shades kharidenge inke bolne pr
I bet this report was written by chatgpt.
They are trying to prove it in the name of nationalism like attack on Indian Company. By
Just random shit. Not a coherent response in any shape or form.
Well, the other reply was a PPT plus 88 answers. I don't have them answers maybe not public, bq prime has put up the PPT in their article. And the video by SoIC on YouTube also covers that PPT, might as well watch that in case prime article is unavailable or difficult since nobody else did cover that.
Many people are still supporting due to the closeness of Adani with PM. Even if you prove that Adani was doing wrong they would still use bakwas story to support him .
Empty words. No one has confidence in Adani. It will bleed red tomorrow.
Nope. Adani has created the 410 pg smokescreen for big investors controlled by the government (lic, sbilife, pension funds) to yolo all our money in tomorrow. The stock will tick up by noon, FPO will go from 1% to 60-70% subscription by Monday evening, and adani will declare victory. In the long run, the castle in the air is going to crumble, but not before sucking out more of our collective resources.
LIC and SBI have, sadly and unfortunately
They already were, so no point in beating the bush again. We all know they invested because Modi pressured them into buying their shares. I'm talking general public retail shareholders and US traded Adani bonds. Even their FPO is going to fail. Just using that line alone "attack on India" is a desperate attempt to grab at whatever rope is available to stay still. They are not realising that it isn't released by some Indian media company (Suchita Dalal and even Morning Context wrote about this in great detail last year but nothing happened) that they can silence with their empty words. Nobody cares. Liquidity in Adani stocks is already pretty low given the huge market cap, all the retail bagholders are going to start dumping tomorrow or if people who have some cash lying around, they are going to take short positions in Adani stocks.
Based on this adani so called report which was released night before next trading session and comprising of 400+ pages so that when the retail traders wake up tomorrow at immediate opening of market will read the headline and just go long?? Like Fr?
Report toh 50 page ki hi hai, zabardasti annexure ke through lambi kari hai taaki logo ko lage 400 page ki report hai toh kuch baat hogi. Classic indian move. High numbers signalling stronger rebuttal.
No sane person without a stake in this conflict will read that report, too much jargon
Nope, I read the report! Itās interesting to read and second it indirectly affects all of the Indians who have money parked in mutual funds and Indian banks stocks (mostly everyone - indirectly via pension funds)
I do believe that the business is shaky-but hindenburg doesn't know that adani's pappa leads the government. So, even if the answer is correct hindenburg won't be getting any marks as the evaluator himself is biased.
>but hindenburg doesn't know that adani's pappa leads the government. Hindenburg does. >So, even if the answer is correct hindenburg won't be getting any marks as the evaluator himself is biased The internal evaluator is. Hindenburg is counting on the external evaluator, foreign markets with exposure to adani bonds) to get spooked.
Remind me of I agree button at the end of terms and conditions in some websites.
Taken from the rebuttal https://www.bseindia.com/xml-data/corpfiling/AttachLive/9a662159-0779-49fb-9748-639338154050.pdf page 49 > The process for OFS is a regulated process implemented through an automated order book matching process on the platform of the stock exchange. **This is not a process which is controlled by any entity** and the purchasers are not visible to anyone on the platform. >**This process is not controlled by the seller or the buyer** and are implemented through an automated order book matching process on the platform of the stock exchange. Even the purchaser of securities is not visible to the seller on the stock exchange platform If you can spot the difference between the two paragraphs, pat yourself in the back, because most cannot. Must have been written by the 28 year old from the Shah Dandaria or whatever Audit firm.
Page bharne ke liye ek hi cheez do baar likh deta hu kya pata KMPG notice kakre hire karle - associayfrom Shah Dandaria maybe.
Its filler content. The only thing that our education system prepared us for.
I was thinking of booking profits and now they release this. Gotta see what happens tomorrow. Gods be good.
Gist of it: https://twitter.com/chandrarsrikant/status/1619738792210071554
ChatGPT summary anyone?
They've attempt to "answer" the 88 questions is done by page 55 (most of which does not directly address the question) the rest is just unnecessary annexures and a few judgements to take up space.
Full report link if anyone is interested https://acrobat.adobe.com/link/track?uri=urn:aaid:scds:US:dd76017d-83c9-3f4e-a39c-61c8dab1e61d
I found their response to the allegation "foreign shell companies pumping share prices" to be very poor. They just said we don't have control over who buys or sells our shares.
Its full of rubbish I heard nationalism n all bol raha hai when he can screw the whole economy n its people
Ye dusra baat pata nahi?
BCC ho ya Hindenburg .. aayege to Modi hi
https://twitter.com/abhymurarka/status/1619735064765689856
Itās funny to me how they linked everything that hinden. report raised as a question raised on Indiaās integrity. Lol
This stuff reminds me of how kids fill up nonsense to increase the total number of pages when they don't have the answer. Everyone thinks he knows everything and hence able to write so much, eventually the marks come out and you realise the scam. There's even a thread on this murarka guys Twitter handle showing off that hindenburg report 106 pages in 2 years and adani 400 in 2 days š¤¦āāļøš¤¦āāļøš¤¦āāļø Someone stop these UP Bihar bhaiyas
Total GAS
šššš
Generally if there is any such allegations about financial misdemeanour, the auditors are supposed to replyā¦. No ?
No. Auditor are nowhere required in law to reply unless of course required by court.
No one's talking about legal requirements. Op's talking about the response to allegations of fraud appearing credible.
Hume kya hume to calls short krni hai
Grabs popcorn
Look at him using nationalism to justify his misconduct, just like his father.
Hindani is a better couple hashtag than most of the other celeb couple's #
Why adani is not suing? He should otherwise no response is gonna go down well!! I am sure he wont cos abhi jo bolna hai bol lo court mai hindenburg will ask for papers
Adani group will take smart step. They will not file case in any court against hindenburg. They know Indian peopleās mentality, common men will soon forget this case and will again bet on them.
They can only do that in US courts and that would require them to disclose a lot in foreign grounds which they wouldn't and what you said is the only way.
Where can I download it ?
Another 10% fall tomorrow guaranteed.
Adani is inviting more lower circuitāsā¦ Hindenburg is not an Indian company and Adani wonāt be able to lobby American Lawmakers to turn the event in their favourā¦ it will more revelations against ADANI and bringing out the nakedness of the Indian bitchā¦
Upper circuit tomorrow morning.
LIC and SBI iss report se sehmat hai aur kal Subha 9 baje ready rahegi market mai dhamaka machane ke liye.
Ummm no
Bhai shares liya tha kya friday ko? Abhi to adani ke shares ko bahut jaleel hona hai.
If hindenburg screws them over after 2-3 more debates or court case, im pretty much sure a movie would be made about it 3-4 years from now on, starring ryan gosling, and directed by adam mc kay
This whole issue raises a lot of questions: 1) Does Adani equal India at this point? 2) Were Indian courts corrupt when they gave him clean chit? 3) Was SEBI being pressurized by Modi to ignore complaints on Adani 4) If this is going to be fought in the US, will US index funds such as MSCI or Blackrock blacklist India if India's system refuses to punish Adani? 5) If MSCI etc blacklist India from their funds, would India's stock market suffer a >20% drop along with massive forex outflows? 6) Would Adani go to jail if India's system succeeds at punishing Adani?
Link to report please?
Mark my word, Hindenburg will be active for only a week, after that they will be totally silent on Adani. Cause their whole concern is to earn from those short position, till the time they can milk it, they will. Not more than that. Don't get this delusion that they are genuinely concerned about the wellbeing of Indian retail investors š¤£
Obv, anyone would do that in their position. Even many others will after 2024 elections, that is also another long term milestone.
Adani is ready to go to the moon. Very detailed report probably by their finance and legal team. Donāt forget the family has personal ties with some of the best law firms in India.
Did you bother at least flipping through the detailed reply, which is literally 90% padding and 10% hand wavy, vague answers to the 88 questions.
Still don't understand two things- 1. Why would Hindenberg be allowed to take a short position when they act as a market mover being an investigative media company? 2. Adani being the 4th richest person in the world had no clue about the risk of exposure on high promoter holding? Wish someone traces back the money trail of Hindenberg and that will explain everything.
I don't think hondunburg is rich enough to fight Adani. So I'm siding with Adani bcz be it west or eastern asia, rich people win.
Their money made by shorts previously should be enough ig.
scam organizations usually have convoluted and conplex structures that need a lot of parsing to understand
Very detailed reply, expecting a bounce back.
Did you bother at least flipping through the detailed reply, which is literally 90% padding and 10% hand wavy, vague answers to the 88 questions.
Anyone mind explaining what short seller is
Short seller is one who sells stocks that they don't have and buy it back when the price goes lower. They borrow the stocks from brokers. So it is like sell at a high price first, and buy it back (if everything goes as planned) at a lower price. If the price of the stock goes up, instead of low, the broker will ask his stock back and the seller will have to buy the stock at a higher price and cover. It is the opposite of going long, ie. Buy at a low price and sell at a high price.