0707 GMT – Adani Enterprises Ltd is among the most mentioned companies in the news over the past 12 hours, according to Factiva data, after US short seller Hindenburg Research issued a report alleging manipulation of stock and accounting fraud in the conglomerate of the Indian billionaire Gautam Adani . Hindenburg said it has conducted a two-year investigation into Adani Group’s business practices and has short positions in the conglomerate’s companies through bonds traded in the United States and derivative instruments not traded in India. The report sent shares of Adani Enterprises and six other listed entities falling between 1.5% and 8.9% on Wednesday. Adani Enterprises on Thursday said it was considering legal options against the short seller, whose report was “designed to have a damaging effect on the share values of Adani Group companies.” Dow Jones & Co owns Factiva. (farah.elias@wsj.com)
(END) Dow Jones Newswires
01-26-23 0222ET
