Adani Group stocks fall amid allegation by US research firm

The Markets Today in a nutshell

• Domestic stock market ended on a negative note.
• Market sentiments were negative. Shares of Adani Group companies continued to witness steep selling pressure for second trading session after US-based Hindenburg Research LLC said it shorted Adani Group companies due to brazen market manipulation and accounting fraud.

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Adani Group stocks fell 20 percent after the US-based investment research firm Hindenburg Research made damaging allegations. Adani Group on Thursday said it is examining legal options to take “punitive action” against Hindenburg Research for its “reckless” attempt to sabotage a mega share sale at the conglomerate’s flagship firm – a statement that the US activist investor responded by saying it stands by its report that alleged “brazen” market manipulation and accounting fraud by the group.

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