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How is the market cap and valuation of PI Industries Limited (PIIND) ✌️【Stock Trading】✌️ Free access to stock market forums, expert advice, and real-time data to help you stay informed and grow your investments. Adani Group companies shed as much as $19 billion in market value on Monday after Hindenburg Research accused the Indian market regulator probing the group of having links to offshore funds also used by Adani.

Billionaire Gautam Adani’s flagship firm Adani Enterprises fell 2% in morning trade, while other companies in the group fell between 2% and 4.5%. Adani Enterprises and Adani Ports were among the biggest losers on India’s blue-chip Nifty 50 index. Total losses in Adani companies narrowed to $9 billion after the early plunge.

Hindenburg, named after the 1937 airship disaster, is a New York-based short seller. It caused one of the most stunning upheavals in India’s corporate history in January 2023 when it alleged improper use of tax havens and stock manipulation by the Adani Group. Short sellers make money by betting the value of shares will fall. In this case Hindenburg made $4.1 million.

How is the market cap and valuation of PI Industries Limited (PIIND) ✌️【Stock Trading】✌️ Expert market analysis and predictions for India, US, and European stocks. Stay updated with real-time data on stock indices, futures, and commodities to help you make informed, timely investment decisions. Adani denied all the allegations at the time and shares in his companies have mostly recovered from a $150 billion rout. An investigation by the Securities and Exchange Board of India (SEBI) continues.

On Saturday, Hindenburg said, citing whistleblower documents, that SEBI Chair Madhabi Puri Buch and her husband held stakes in an offshore fund where a substantial amount of money was invested by associates of Vinod Adani, brother of Gautam Adani.

“The allegations are coming for the second time. (A) lot of investigations have happened over the last year and a half. This is a temporary, knee-jerk reaction. Things will get back to normalcy,” said Sunny Agrawal, head of fundamental equity research at SBICAPS Securities.

Buch said Hindenburg’s allegations were baseless. Adani also rejected the fresh allegations on Sunday and said its overseas holding structure was fully transparent.

How is the market cap and valuation of PI Industries Limited (PIIND) ✌️【Stock Trading】✌️ Real-time stock and futures data, backed by expert stock market trend predictions, to help you make timely and profitable investment decisions. The SEBI asked investors on Sunday to remain calm and exercise due diligence before reacting to such reports.

How is the market cap and valuation of PI Industries Limited (PIIND) ✌️【Stock Trading】✌️ AI-driven stock trend forecasting with free access to real-time market data, offering personalized investment advice and expert predictions. The original 2023 Hindenburg report led to an inquiry by the regulator that Buch heads, which is still underway.

“We do not think SEBI can be trusted as an objective arbiter in the Adani matter,” Hindenburg said on Saturday.

How is the market cap and valuation of PI Industries Limited (PIIND) ✌️【Stock Trading】✌️ Real-time stock market data, precise predictions, and investment strategies to help you optimize your portfolio and achieve financial success. The allegations made by Hindenburg Research against the Adani Group have been duly investigated, SEBI said

India’s top courtin January ordered the market regulator to wrap up its investigation quickly and said that no further probes into the group were needed.

“We will likely see a short to medium term sentiment impact on Adani stocks, especially as retail investors are pressurized by the allegations made against SEBI,” said Kranthi Bathini, Director, Equity Strategy, WealthMills Securities.

How is the market cap and valuation of PI Industries Limited (PIIND) ✌️【Stock Trading】✌️ Free expert predictions on stock trends and real-time data to help you make informed decisions and grow your wealth steadily. The allegations have also gained political traction, with India’s opposition leader Rahul Gandhi saying on X: “The integrity of SEBI, the securities regulator entrusted with safeguarding the wealth of small retail investors, has been gravely compromised by the allegations against its chairperson.”

How is the market cap and valuation of PI Industries Limited (PIIND) ✌️【Stock Trading】✌️ Accurate real-time market data and expert stock predictions for profitable investment opportunities in global markets. Ajay Seth, India’s economic affairs secretary, said on Monday that “the regulator and the concerned person have made a statement. The government has nothing further to add.”

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