: Anand Mahindra, chairman of Mahindra Group and one of India’s richest men, is very active on social media. Not only that, he is often seen sharing various viral videos along with expressing his opinion on various issues. The most significant thing is that, relying on social media, he extended his helping hand to the marginalized sections of the society. And that is why the number of his fans is increasing day by day.
However, this time after the Hindenburg report, he has brought forward his opinion regarding the decline of Adani Group’s shares. Also, Anand Mahindra advises the global media not to underestimate India in any way. Mahindra has already tweeted, “The world’s media is speculating whether the current challenges on the trade front will derail India’s ambitions to become a global economic power. I have seen many earthquakes, droughts, recessions, wars and terrorist attacks. I just want to say never underestimate India.”
Let us inform in this context that since the publication of the report of the US firm Hindenburg Research on January 24, the shares of Adani Group have seen a sharp decline. According to the report, shares of Adani group companies collectively fell by more than 50 percent. Due to which the Adani Group has suffered a loss of 10 lakh crore rupees so far.
Meanwhile, Hindenburg made several sensational allegations against the Adani group in his report. The report clearly claims that the Adani Group has been involved in stock manipulation and accounting fraud for several years. Besides, several questions were also thrown at the Adani Group.
Global media is speculating whether current challenges in the business sector will trip India’s ambitions to be a global economic force. I’ve lived long enough to see us face earthquakes, droughts, recessions, wars, terror attacks. All I will say is: never, ever bet against India
— anand mahindra (@anandmahindra) February 4, 2023
However, the Adani Group later responded to Hindenburg’s allegations. In a 413-page reply, the organization claimed that Hindenburg’s allegations were completely false. Also, Adani Group said that these allegations are a planned attack on India and the development of the country and companies based there. However, even then the share prices of Adani Group companies continued to fall. Even last Friday, shares of Adani Enterprises fell by 35 percent.