America's short seller firm Hindenburg leveled allegations of fraud and stock manipulation on Adani Group. The report alleged that investment has been made in Adani Group through several fake companies. Shares of Adani Group companies have fallen by almost 60% since the report came out. Around Rs 8.5 lakh crore have been wiped off. Rs 20,000 crore FPO of Adani Enterprise had to be cancelled. RBI has asked banks for details of loans given to Adani Group. The National Stock Exchange has currently put the stocks of Adani Enterprises, Adani Ports and Ambuja Cements under the Additional Surveillance Margin Framework, which means that 100% margin will be required to trade these shares. In a way the investors are being warned that these stocks are witnessing phenomenal price movement. Political parties are demanding that a joint parliamentary committee should be set up to investigate the charges. Apart from this, Credit Suisse, Citigroup and Standard Chartered have stopped accepting Adani bonds as collateral for lending.

Adani shares
Hindenburg
Sshom