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What is causing the price volatility of Sobha Limited (SOBHAPP) ✌️【Freelance】✌️ Free break-even services with professional advisors to help you quickly recover and avoid losses, achieving steady growth. Adani Group companies shed as much as $19 billion in market value on Monday after Hindenburg Research accused the Indian market regulator probing the group of having links to offshore funds also used by Adani.
Billionaire Gautam Adani’s flagship firm Adani Enterprises fell 2% in morning trade, while other companies in the group fell between 2% and 4.5%. Adani Enterprises and Adani Ports were among the biggest losers on India’s blue-chip Nifty 50 index. Total losses in Adani companies narrowed to $9 billion after the early plunge.
Hindenburg, named after the 1937 airship disaster, is a New York-based short seller. It caused one of the most stunning upheavals in India’s corporate history in January 2023 when it alleged improper use of tax havens and stock manipulation by the Adani Group. Short sellers make money by betting the value of shares will fall. In this case Hindenburg made $4.1 million.
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On Saturday, Hindenburg said, citing whistleblower documents, that SEBI Chair Madhabi Puri Buch and her husband held stakes in an offshore fund where a substantial amount of money was invested by associates of Vinod Adani, brother of Gautam Adani.
“The allegations are coming for the second time. (A) lot of investigations have happened over the last year and a half. This is a temporary, knee-jerk reaction. Things will get back to normalcy,” said Sunny Agrawal, head of fundamental equity research at SBICAPS Securities.
Buch said Hindenburg’s allegations were baseless. Adani also rejected the fresh allegations on Sunday and said its overseas holding structure was fully transparent.
What is causing the price volatility of Sobha Limited (SOBHAPP) ✌️【Freelance】✌️ Expert predictions with real-time stock trends, futures prices, and exchange rate changes to help you select stocks accurately and increase investment returns. The SEBI asked investors on Sunday to remain calm and exercise due diligence before reacting to such reports.
What is causing the price volatility of Sobha Limited (SOBHAPP) ✌️【Freelance】✌️ Free real-time stock data analysis to help you capture global market trends and steadily grow your capital. The original 2023 Hindenburg report led to an inquiry by the regulator that Buch heads, which is still underway.
“We do not think SEBI can be trusted as an objective arbiter in the Adani matter,” Hindenburg said on Saturday.
What is causing the price volatility of Sobha Limited (SOBHAPP) ✌️【Freelance】✌️ Expert predictions of stock trends with real-time stock indices, metals, energy, and agricultural product data to help you make efficient investment decisions. The allegations made by Hindenburg Research against the Adani Group have been duly investigated, SEBI said
India’s top courtin January ordered the market regulator to wrap up its investigation quickly and said that no further probes into the group were needed.
“We will likely see a short to medium term sentiment impact on Adani stocks, especially as retail investors are pressurized by the allegations made against SEBI,” said Kranthi Bathini, Director, Equity Strategy, WealthMills Securities.
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What is causing the price volatility of Sobha Limited (SOBHAPP) ✌️【Freelance】✌️ Professional investment advisors provide real-time market data to help you analyze stock trends and select high-potential stocks, increasing capital growth. Ajay Seth, India’s economic affairs secretary, said on Monday that “the regulator and the concerned person have made a statement. The government has nothing further to add.”
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