Business Standard

Hindenburg flames again: Can Adani repeat what Dhirubhai did in the 80s?

The last time a bear attack was launched on a businessman gaining prominence rapidly was in the early 1980s when a cabal of brokers took on "an over-priced Reliance share", recalls T N Ninan

Image
Premium

T N Ninan
Gautam Adani has a fight on his hands. Whether or not you think his group’s rebuttal of the appropriately named Hindenburg report on the Adani companies is convincing (it covers only some of the points in the report), the share prices of group entities have seen a sharp dip, becoming close to a rout on Friday. Importantly, the price of the group’s flagship, Adani Enterprises, has fallen well below the floor price of its public issue, which is open for subscription till Tuesday. The Adani group may have to drop the asking price (allowed up to 20 per cent) to
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 27 2023 | 7:33 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com