Share this page!

JayEnAar Profile picture
Twitter logo
Feb 7 • 4 tweets • 2 min read
Watching @RahulGandhi speaking in #Loksabha. It is telling - the reaction of the BJP Front bench to every minor point that Rahul makes linking Adani with ModiJi.
@RahulGandhi In July 2020 this happened. Image
@RahulGandhi In July 2021 this happened Image
@RahulGandhi's final set of questions may be the most pertinent. Its abou the close links between the Prime Minister of India and Mr Adani. How much did the latter donate to the BJP through #electoralbonds.

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with JayEnAar

JayEnAar Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @GorwayGlobal

JayEnAar Profile picture
Feb 9
Unable to counter the @HindenburgRes allegations against #AdaniGroup, the Indian rightwing zealots, probably with support of the Govt, ios seeking to rope in the #SupremeCourt to shield #SEBI fromthe need to investigate.
1. They first want to go after #Hindenburg Image
Next, they want to gag any discussion of the stock valuation problems of the #AdaniGroup. Image
Botht are misguided. The Supreme Court should take a straightforward approach.
1. The Courts cannot prevent investors from losing their shirts in the stockmarket. They must be allowed to lose their investments just as they are entitled to keep their gains.
Read 8 tweets
JayEnAar Profile picture
Feb 7
Once the first bug skeleton in the cupboard is revealed, other parts of the Palace reveal their little bits of buried evidence.
Here is @FT looking into the audit of the UK entity. Image
After he $3.5bn sale, Adani changed the auditor of Adani Energy Holdings Limited, the main UK holding company that houses the subsidiaries, from Deloitte to Crowe.

Crowe UK earned £143,000 for its 2022 audit of Adani Energy Holdings Limited, Deloitte had charged 257,000.
This is Adani Energy Holdings Ltd, from UK Companies House filings, 20 directors at var time 19 resigned leaving the one Sanjay Newatia. Image
Read 12 tweets
JayEnAar Profile picture
Feb 4
L'Affaire Adani Group
How the world is reporting the fallout from @HindenburgRes allegations
1. London's Financial Times looks at the challenge for India's institutions.
Here is the link:
ft.com/content/9840aa…
The FT says, apart from Adani business empire, "something bigger is on the line: India’s probity in corporate governance and pursuit of a development model in which the state has entrusted a few ultra-rich men with running India’s infrastructure and pioneering investments abroad.
Read 13 tweets
JayEnAar Profile picture
Feb 3
A Tweetorial on Corporate Bonds
In connection with the Adani #Hindenburg debacle.
In last few days Ive come across some surprising levels of misunderstanding about how bonds work. So here is a quick primer.
1. Why do companies issue bonds to raise financing for their operations?
A company (C) needs cash to set up, run, pay staff, buy stuff, pay bills, etc in order, hopefully to make a profit for its owners (shareholders). Two option to do this equity, i.e sell shares (= give away a share of the company in return for a cash price) or sell Bonds.
They can also take a loan from a bank, but I am leaving that out for now to keep things simple. Bonds and loans are slightly different form of debt finance.
Focus for now on Bonds. Keep it simple. Lets say C issues a 10-Yr Bond with a face value of 100 and a coupon of 7.5
Read 19 tweets
JayEnAar Profile picture
Feb 3
This is wrong. Do not be fooled by this "attack on India" nonsense. Shorsellers get their fingers burned when they target a sound company and predict a drop in its share price. They target companies that are "over-valued" acc to the fundamentals. Read
It is as natural for Owners and CEOs of target companies to rant and rail angrily at Short Sellers. They don't want their misgovernance to be suspected let alone called out. Elon Musk famously fumed at savvy traders who shorted Tesla Stock.
He once famously referred to the SEC (Securities and Exchanges Commission) as the ShortSellers Enrichment Commission. President Hoover labelled the short sellers of 1929 'unpatriotic' much as #Sanghi PseudoNationalists now are draping Mr Adani in the #Tiranga.
Read 6 tweets
JayEnAar Profile picture
Feb 3
A twitter thread on short selling.
At a time when ppl in India, have woken up to "short-selling" thanks to @HindenburgRes expose of corporate fraud, it my be useful to see why short sellers are as useful for markets in general as they are painful for the target stock
In 2018 @economist wrote this excellent briefing on short selling. "Short-sellers are savvy investors who help to keep the market’s exuberance in check."
economist.com/finance-and-ec…
Why did Elon Musk and Tesla feature in this article. Because, Tesla stock "is one of the most heavily shorted companies in America", with "a quarter of its publicly traded shares lent out to facilitate short-sellers". Naturally, Elon Musk hates these “haters”, “jerks” etc
Read 12 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

Send Email!

:(