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US financial research firm Hindenburg Research accused the group led by industrialist Gautam Adani of indulging in “blatant stock manipulation and accounting fraud.” Following this allegation by the company, the shares of the group companies are continuously falling.
New Delhi. Fitch Ratings said on Friday there will be no immediate impact on the ratings of Adani group companies and their securities following a ‘short seller’ report alleging misconduct at Adani Group. Significantly, the US financial research firm Hindenburg Research accused the group led by industrialist Gautam Adani of indulging in “open stock manipulation and accounting fraud.”
Following this allegation by the company, the shares of the group companies are continuously falling. The rating agency said in a statement that it does not expect major changes in its forecast cash flows.
Disclaimer:Prabhasakshi has not edited this news. This news has been published from PTI-language feed.
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