| Spot on!!
The above assumption/question is simply an out and out lie - This has been peddled by the INC and AAP parties, both of who are obviously trying to capitalize on a non-issue - they have done this before. All the issues they've peddled in the past have died away with zero result. I see no reason for an investigation just because some unknown third-party publishes some report - with obviously ulterior motives (of shorting the stock). Look at this one by AAP for example: https://www.financialexpress.com/india-news/adani-companies-...
Quoting: "...(AAP) spokesperson Sanjay Singh claimed that Adani Enterprise Limited (AEL) took the money for the generation and operation of electricity from the Maharashtra government and also pocketed the profit."
Adani took money for generating and operating the electrical generation system AND pocketed the profits. OF COURSE he will pocket the profit. THAT is why he has taken the outsourcing contract of the electrical generation system. This is the right of whoever wins the outsourcing tender. I mean, this is bullshit of the highest order - The Adani's of this world are in business to make profits not donate to the world cause. On the other hand he's lost orders too. Why do I call the Adani/Hindenberg a non-issue? * NSE DID put a short term surveillance which it lifted and Adani shares surged subsequently: https://www.financialexpress.com/market/adani-stocks-surge-u... * Look at their Balance sheet https://www.google.com/finance/quote/ADANIENT:NSE - yes their D/E ratio is high (I think they are over-leveraged) but that is the decision that is the right of the CEO/Board so long as they are within limits. Their D/E ratio is less than 100%, their income, EBTDA, net profits all have been growing. They have enough assets to cover the debt they have taken. * They have prepaid their share backed loans: https://www.msn.com/en-us/money/companies/adani-founders-pre... - NO ONE who's running out of money will prepay their loan amounts. * Adani has sued Hindenburg. Let's see what comes out of that one. Yes, Adani shares are lower than what they were but the overall Indian stock market has fallen given the SVB blues. |