The Indian billionaire gets support from a court in his dispute with a short seller.
(Photo: IMAGO/NurPhoto)
Dusseldorf Shares in the Indian conglomerate Adani Group are currently experiencing a rally after the price slump at the end of January. All ten of the conglomerate’s individual shares rose on the Mumbai stock exchange on Tuesday, with holding company Adani Enterprises leading the way, up 13 percent.
For the port division “Adani Ports and Special Economic Zone Limited” it went up by 7.8 percent to up to 785.65 rupees, the equivalent of 8.77 euros. This makes it the first of Adani stocks to have erased its losses since the slump.
The trigger for the losses was a report by short-seller Hindenburg Research, which accused the group of fraud and price manipulation and bet on falling share prices. He has thus benefited from the price crash, the exact profit is unknown.
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