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| Name | Adani Hindenburg Explained – Is Adani a Giant Fraud? |
| Video Uploader | Video From Finance Made Simple |
| Upload Date | This Video Uploaded At 18-02-2023 22:40:05 |
| Video Discription | The Adani Group is being accused of massive fraud by Hindenburg Research. The Adani Hindenburg Report is explained in depth in this video. Guatam Adani is the billionaire founder of the Adani Group which is a massive conglomerate in India. Just a month ago, Guatam Adani was the richest person in Asia and the third richest person in the world with a net worth of nearly $150 billion dollars. Now Guatam Adani and the Adani Group have been accused of fraud which has wiped out over $100 billion dollars from the Adani Group conglomerate of companies. It all started back on when Hindenburg Research released a bombshell report accusing the Adani Group of “pulling the largest con in corporate history” through an elaborate scheme involving stock manipulation and accounting fraud. At the center of the Adani Group fraud claims were allegations that the Adani group used offshore shell companies and funds that were tied to the Adani Group to invest in its own stock – the report alleges that these offshore companies and funds are some of the largest “public” holders of Adani Group stocks which is an issue that would subject the Adani companies to delisting as per Indian securities rules. These shell entities were also heavily associated with Gautam Adani’s older brother, Vinod Adani, which also raised significant concerns. Hindenburg research also alleges that these shell entities are used for earnings manipulation in Adani Group companies. Hindenburg research is alleging that the Adani Group uses shell companies to artificially boost its earnings by selling these assets to the Vinod Adani controlled shell companies at the full price and then having the shell company record the impairment charge. This alleged fraud in the Adani Group companies helps avoid impairment charges on their earnings report by transferring the loss to the offshore shell company. Within days of these allegations, the Adani Group’s flagship stock, Adani Enterprises, lost over 50% of its value and wiped out $100 billion dollars in market cap as investors feared the worst about the Adani Group fraud accusations. And that’s without even looking at the valuation concerns with Gautam Adani's companies that the Hindenberg research report pointed out. The industry average price to earnings ratio for most of these companies is in the 20’s, but the Adani Group companies perplexingly had been trading with ratios that were well into the hundreds. To make things even more puzzling, a lot of Gautam Adani's companies actually have negative free cash flow meaning that many of the companies don’t even generate enough cash on their own to cover cash outflows and maintain business operations. With the short report and fraud allegations combined with Hindenburg Research's past track record for exposing fraud, the market panicked and the Adani Group stocks crashed due to the alleged Adani fraud. On January 29, Adani Group hit back with a massive 413-page reply to Hindenburg’s allegations. They characterized the short report’s claims as being baseless and misleading attacks from the “Madoffs of Manhattan” in the lengthy response and they even claimed that the fraud allegations were an attack on India. The Adani group also said that it would be exploring legal action against Hindenburg Research for the short report. But Gautam Adani’s reply to the Adani fraud allegations actually made things worse for the company as the stock continued to crash in the coming days. Hindenburg Research responded to the Adani Group’s rebuttal just hours later saying that the report only included around 30 pages in the 413 page document that even focused on the claims that Hindenburg made in their short report. Hindenberg said in their response that “Adani Failed To Specifically Answer 62 of Our 88 Questions. Of The Questions It Did Answer, The Group Largely Confirmed Or Attempted to Sidestep Our Findings”. Hindenburg also said that the allegations relating to the off-shore entities controlled by Guatam Adani’s brother were not disputed at all by the report. I hope this explanation video of the Adani Fraud Accusations made by Hindenburg Report was helpful. Timestamps: 0:00 Adani Accused of Fraud by Hindenburg Research 1:19 Hindenburg Accuses Adani of Stock Manipulation 4:25 The Suspicious Rise and Fall of Adani Group's Stocks 5:25 The Adani Group's Stocks Were Majorly Overvalued 6:36 Adani's Response to the Market Panic 7:32 Hindenburg Replies to Adani's Response 9:23 The Adani Group Cancels it's Stock Public Offering 10:35 Adani's Debt Issues 11:45 The Negative Impacts of the Short Report for Adani Disclaimer: Opinions expressed in this video are my personal opinion and are for information and entertainment purposes only. It is not intended to be investment advice and you are responsible for doing research and making your own investment decisions. Seek a licensed professional for investment advice. #adani #adanigroup #hindenburgreport |
| Category | Education |
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