Adani Group Stocks : Adani Group is once again in trouble. After the new report of US research and investment company Hindenburg Research, there is a sell-off in the shares of all 10 companies listed in Adani Group today. The shares of these companies have seen a decline of up to 17 percent today. Earlier in January 2023 also, Adani Group had to suffer huge losses due to the report of Hindenburg Research. Hindenburg Research has alleged that it suspects that the reason for SEBI’s reluctance to take action against Adani Group may be that Buch had a stake in foreign funds associated with Adani Group.
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Adani Group Stocks: How much fall in which stock
Today, in intraday trading, Adani Energy Solutions listed on BSE Sensex has seen a 17 percent decline. Adani Total Gas has fallen by 13.39 percent, NDTV by 11 percent and Adani Power by 10.94 percent. Adani Green Energy shares have fallen by 6.96 percent, Adani Wilmar by 6.49 percent, Adani Enterprises by 5.43 percent, Adani Ports by 4.95 percent, Ambuja Cements by 2.53 percent and ACC by 2.42 percent.
Adani Energy Solutions : -17%
Adani Enterprises : -5.43%
Adani Total Gas : 13.39%
NDTV : 11%
Adani Power : 11%
Adani Green Energy : 7%
Adani Wilmar : 6.5%
Adani Ports : 5%
Ambuja Cement : 2.53%
ACC : 2.42%
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What the Hindenburg report said
Hindenburg had said in its new report released late Saturday night that market regulator Securities and Exchange Board of India (SEBI) chairperson Buch and her husband Dhabal Buch had made undeclared investments in obscure foreign funds in Bermuda and Mauritius. It said that these are the same funds that Vinod Adani allegedly used to siphon off money and increase the share prices of the group’s companies. Vinod Adani is the elder brother of Adani Group chairperson Gautam Adani.
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What did the Butch couple say about the allegations
Responding to the allegations, the Buch couple said in a joint statement that these investments were made in 2015, much before his appointment as full-time member of SEBI in 2017 and his promotion as chairperson in March 2022. These investments were made in his private capacity as a common citizen while residing in Singapore. These funds became ‘inactive’ after his appointment to SEBI.