After releasing a scathing report on the Adani Group, Hindenburg Research is set to release yet another “big report” that has left many wondering who the next target could be. The research firm recently took to its official Twitter handle to tease the upcoming report, stating, “New report soon—another big one.”
The impact of the Hindenburg report on the Adani Group has been significant. Adani’s net worth was valued at USD 134.2 billion on December 13, 2022, but has now plummeted to USD 50.3 billion as many investors chose to withdraw investments from Adani’s companies following the release of the report.
In the report, Hindenburg has raised concerns about the high valuations of Adani Group companies. Claiming that the companies were overvalued, it predicted a decline from their current levels.
In reply to the report, the group released a 400-page response. However, despite the response, the sell-off continued.
It remains to be seen what the upcoming Hindenburg report will focus on.