9 Feb 2023

Hindenburg Report: Hearing In Supreme Court On Friday; Adani Stocks Plunge By 10%

New Delhi: The Supreme Court has agreed to hear the Hindenburg Report. The petition has been filed by advocate Vishal Tiwari and hearing on it will take place Friday. 

The petition has demanded to constitute a committee under the supervision of a retired judge of the Supreme Court. The advocate appealed for urgent listing of the matter before a bench headed by Chief Justice DY Chandrachud.

On January 24, Hindenburg Research published a report regarding the Adani Group. In the report, allegations ranging from money laundering to share manipulation were made on the group. 

After the report, there was a huge fall in the shares of the group. On Friday i.e. February 3, the share of Adani Enterprises had reached close to Rs 1000. However, later it recovered.

On the other hand, selling is visible in the Indian stock market since morning. Both Sensex and Nifty are trading with a slight decline. 

The effect of this decline of the market is also visible on the stocks of Adani Group. The stock of Adani Group's flagship company Adani Enterprises is down 10% today. Yesterday Adani Enterprises saw a gain of 23%.

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