Hindenburg Research Teases New Revelations in India

It looks like Hindenburg Research is cooking up something big again! The US-based short-selling firm took to social media recently, posting a mysterious message that simply said, “Something big soon India.” This has sparked quite a buzz, especially considering Hindenburg’s reputation for dropping bombshell reports.

Many remember that just over a year ago, Hindenburg dropped a shocking report about the Adani Group, owned by Gautam Adani. The accusations, which included allegations of insider trading and stock market violations, led to a massive loss of over $100 billion in market value for Adani’s companies. The fallout from that report was swift and severe.

Adding another layer to the intrigue, Indian lawyer Mahesh Jethmalani recently alleged that an American businessman with ties to China may have commissioned Hindenburg to put together the Adani report. He specifically called out Mark Kingdon of Kingdon Capital Management as being behind it all, claiming that he collaborated with the Hindenburg team.

Jethmalani even went so far as to name Anla Cheng and her husband, suggesting they played a role in this alleged plot. He’s pushing for an investigation into any potential connections between people critical of Adani and the timing of Hindenburg’s report.

For their part, Adani Group has continuously pushed back against these claims, labeling them as baseless. Gautam Adani himself addressed the issue during a recent Annual General Meeting, stating that they have faced unprecedented attacks on their integrity.

Meanwhile, Hindenburg has had its own run-in with the law here in India. Back in June, SEBI, the country’s capital markets regulator, issued a notice that accused Hindenburg of violating Indian regulations. Hindenburg wasn’t happy about this, claiming the notice was “nonsense” and just an attempt to silence the firm.

Recently, attention has shifted back to Hindenburg as investors and analysts speculate about what their next move might be. Everyone is waiting to see if they will drop another bombshell that could shake up the Indian market, just like last time.