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Hindenburg Research says if Adani Group files a lawsuit, it will demand documents from the company.

image source-Millenium Post   Adani Group has announced that it is considering legal action against Hindenburg Research, a US-based investment research firm, for its recent report on the Indian conglomerate. In response, Hindenburg has stated that it fully stands by its report and believes any legal action taken against them would be without merit. The report, which was released this week, alleged that Adani Group had used undisclosed related-party transactions and earnings manipulation to "maintain the appearance of financial health and solvency" of its listed business units. The firm also stated that they would welcome any legal action taken by Adani Group and would use the discovery process to demand documents.
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Indian Stock Market Rides Global Optimism: Sensex and Nifty Extend Gains on US Debt Ceiling Deal

 




Global positive cues supported the Indian stock market, with the Sensex and Nifty closing in positive territory for the third consecutive session. The market reacted favorably to news of a debt ceiling deal in the US, as Congressional Republican McCarthy and President Joe Biden agreed to suspend the $31.4 trillion debt ceiling until 2025.



The Sensex opened higher, reaching an intraday high of 63,026 points and closing 345 points higher at 62,846.38. The Nifty closed at 18,598.65, up 99 points. Both indexes are nearing their all-time highs. The BSE Midcap and Smallcap indexes also performed well, with the former hitting a fresh 52-week high and the latter gaining 0.30%. The overall market capitalization of BSE-listed firms increased by ₹1 lakh crore in a day, reaching ₹283.7 lakh crore.

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