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Journalism of Courage
Adani Enterprises issued a clarification on Thursday regarding the company hiring accountancy firm Grant Thornton for an independent audit of some of its companies, calling it a “rumour”.
In a notice to the exchanges, Adani Enterprises, via a statement, said: “We would like to clarify that the said news item appears to be a market rumour and hence it would be inappropriate on our part to comment on it.”
This comes two days after market regulator Sebi had sought a clarification from the firm over a Business Standard report that stated Adani Enterprises has hired Grant Thornton for independent audits of some of its companies in a bid to discredit claims by short-seller Hindenburg Research that have battered its stocks and bonds.
“We wish to confirm that we have made and will continue to make disclosures in compliance with our obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and our agreements with the stock exchanges,” the company informed.
Adani Group firms have lost nearly $120 billion in market value after a report published by Hindenburg Research published on January 24 claimed that the group is “engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades.”
The conglomerate has denied all the allegations levied by the US-based short-seller and said that its balance sheet is “very healthy.”
On Thursday, shares of Adani Group firms were trading in positive amid a rally in domestic equities, as Adani Enterprises (AEL) continued to rise for a third day after positive Q3 results. Other Adani Group stocks, namely Adani Wilmar, Adani Transmission, Adani Green Energy gained over 5 per cent on the BSE.
