Thread by @OyeMukund

(1/n) Okay so, the Adani Group has issued a 413 page response to the 106 page report of Hindenburg.

However, if one simply looks at the index of the response, Page 1 to 26 is merely general information about Adani Group to show power (it's like yelling "I'm too big to fail").

(2/n) Page 55 to 413 consists of 11 annexures containing court orders which are usually lengthy documents and these annexures have been included just to dismiss some of the allegations made by Hindenburg.

(3/n) Thus, the actual response is of 28 pages (Page 27 to 54). Even in those pages they have requoted the questions and have replied in few sentences, mostly denying, dismissing and confusing if the first two weren't the option.

(4/n) The language of the response is too animated, and doesn't really seem like a Corporate's response. Adani is exposed here. The markets might swing back and the stocks might even hit a UC if headlines are "413 page response by Adani", however, it's a hollow response imo.

(5/n) Although, I am of the opinion that Adani Group should be thoroughly investigated by authorities, but we all know, it isn't going to happen. It would be like Government investigating the Government itself, given the deep rooted connections.

(6/n) So, the media is going to praise Adani. Government will probably make this as a Nationalism issue and reap political benefits. Since stock markets are rigged and manipulated, the prices might (probably will) skyrocket, to ensure FPO is a grand success.

(7/n) However, one must stay away from these stocks. It's like a house of cards which will crumble some day and when that happens, it will sink the entire market with it. We all know it but are we willing to act on it?

Adani Group's response -
acrobat.adobe.com/link/track?uri…

#Sensex