Something big soon India: Hindenburg Research Teases Another Major Disclosure
The American investment research firm Hindenburg Research has surprised everyone by making an announcement today. Posting on ‘X’ on Saturday morning, the American company has hinted at another big disclosure related to the Indian company. In its post, Hindenburg Research wrote that "Something big soon India".
Something big soon India
— Hindenburg Research (@HindenburgRes) August 10, 2024
However, Hindenburg has not disclosed anything about what and what big thing is going to happen. Regarding this post of the company, it is believed that Hindenburg Research is going to make a big disclosure about an Indian company once again.
In January 2023, Hindenburg Research released a report targeting Gautam Adani's Adani Group. This report created a stir because Hindenburg had made many serious allegations against the Adani Group. As soon as the Hindenburg Research report came out, there was a sharp decline in all the shares of Adani Group and Gautam Adani slipped to number 36 after becoming the world's number 2 billionaire, as a record decline was recorded in his wealth.
After the report on Adani Group came out on January 24, 2023, there was a huge decline in all the shares, after which the valuation of the company also fell sharply. The situation was such that the valuation of Adani Group had come down to $ 86 billion in a few days. This huge fall in the share price later led to heavy selling of the group's foreign-listed bonds.
In June this year, Hindenburg Research once again came into the limelight when it revealed that capital market regulator SEBI had issued a notice against them alleging a violation of Indian rules. This development proved to be a turning point, as Hindenburg Research identified Kotak Bank in its report for the first time. As a result, the disclosure led to a significant drop in Kotak Bank's share price, which hit its lowest level since June in the early trading session.
Hindenburg said the notice issued by the Indian market regulator on June 27, 2024, is 'nonsense'. It was crafted to serve a pre-determined purpose. It said it is an attempt to silence and intimidate those who expose corruption and fraud committed by the most powerful individuals in India.
The SEBI notice revealed that Kingdon Capital has made significant investments in Kotak Mahindra Investments Limited (KMIL). It turned out that Kingdon Capital took advantage of the market volatility triggered by a recent report. The firm made a strategic move by allocating $43 million to establish a short position in Adani Enterprises Limited (AEL) before the report came out. Subsequently, Kingdon Capital successfully closed these positions, generating a profit of $22.25 million.
