Adani Enterprises share price has 40% more downside: NYU professor Aswath Damodaran
Shares of Adani Group’s flagship firm are overvalued on some metrics despite plunging more than 50% in the rout triggered by US short seller Hindenburg Research’s scathing report last month, according to a New York University finance professor. Adani Enterprises Ltd. yielded a value of 945 rupees per share even before “factoring any of the […]
Fraud cannot be obfuscated by nationalism: Hindenburg on Adani ‘loot’
NEW DELHI: US short seller Hindenburg Research has rejected Adani Group’s charge that its report was an attack on India, saying a “fraud” cannot be obfuscated by nationalism or a bloated response that ignored response to key allegations. Commenting on the 413-page response Adani Group released late on Sunday evening in response to its report, […]
Adani’s market loss swells to $70 billion as its fight with short-seller escalates
By Chris Thomas and Aditya Kalra NEW DELHI:Adani group shares extended their sharp falls on Monday as the Indian conglomerate’s rebuttal of a U.S. short-seller’s criticism failed to pacify investors, driving stock market losses for the companies to almost $70 billion over three days. Flagship Adani Enterprises (ADEL.NS), which is facing a crucial test this […]