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in Economy

A short-seller rattles Gautam Adani’s empire

by Editor January 28, 2023, 7:10 am 1.8k Views

2D0N97D Indian billionaire Gautam Adani speaks during an interview with Reuters at his office in the western Indian city of Ahmedabad April 2, 2014. The way billionaire Indian infrastructure-builder Adani sees it, working with the government does not make him a crony-capitalist. Adani's rapid ascent to the top tier of Indian business is often associated with the rise of Narendra Modi, the Hindu nationalist opposition leader widely expected to become India's next prime minister once the country's election ends next month. Its flagship Adani Enterprises soared 22.9 percent for its biggest daily gain on

From meagre beginnings in the 1980s, Gautam Adani has emerged as India’s richest citizen. Now, in just a few days, the foundations of his sprawling empire have been shaken. On January 24th a small New York investment firm, Hindenburg Research, published a report calling the Adani Group “the largest con in corporate history”. In a series of statements, the group responded by saying that the report was “maliciously mischievous”,…

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