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The Adani Hindenburg saga just got a Kotak twist
Jul 5, 2024
Exploring the twist in the Adani vs Hindenburg saga involving Kotak Mahindra Bank's subsidiary short-selling Adani shares, revealing accusations, responses, and the impact on the controversy
05:28
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Quick takeaways
- Adani group's wealth dropped significantly due to accusations of stock manipulation and accounting fraud by Hindenburg Research.
- Hindenburg Research raised concerns about SEBI concealing Kotak Mahindra Bank's involvement in short-selling Adani shares through Kingdon Capital Management.
Deep dives
Adani vs. Hindenburg Row and Market Impact
Hindenburg Research's report accusing the Adani group of stock price manipulation and accounting fraud had a significant impact, causing Adani's wealth to drop by over $80 billion in a month and his conglomerate to lose over $150 billion in market value. The allegations led to a show cause notice from Sebi to Hindenburg for spreading misleading information and a claim that Sebi was covering up Kotak Mahindra Bank's involvement in short-selling Adani shares.
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