Some apologists for Adani Group are praying-in-aid @AswathDamodaran - the Finance prof and acknowledged corporate valuation expert from NYU Stern B-School. He appears to reject @HindenburgRes allegation that the whole Adani financing model is a 'con' but read his blog
He sets out his understanding of a con.
"A con game to me has no substance at its core, and its only objective is to fool other people, and part them from their money." By that definition Adani Group is NOT a total fraud operation - of course NOT. There is tangible physical
"A con game to me has no substance at its core, and its only objective is to fool other people, and part them from their money." By that definition Adani Group is NOT a total fraud operation - of course NOT. There is tangible physical
Infrastructure on the ground that generates vast revenues. So where is the fraud?
1. Among #Hindenburg's 'serious contentions" Damodaran acknowledges "the Mauritius-based shell entities, with no real operating purpose, and their links to the Adani Group companies."
1. Among #Hindenburg's 'serious contentions" Damodaran acknowledges "the Mauritius-based shell entities, with no real operating purpose, and their links to the Adani Group companies."
In the category of allegations based on circumstantial evidence put up by #Hindenburg Damodaran lists, "many of the stock price manipulation charges"
In the category of #Hindenburg's "Questionable claims", Damodaran lists charges "to do with earnings manipulation," but these are "questionable" because "if Adani is manipulating earnings, it is not doing a very good job, reporting low margins and returns."
So according to Prof Damodaran, Adani group is not a total con operation in the sense that #Nithyananda is, but it has a lot to answer for. But his killer conclusion is that #AdaniENT stock is, on the fundamentals, worth "₹ 945, well below ₹ 3,858 per share."
Even if the share price were to drop below that level, and disregarding anything Hindenburg may have said, Damodaran is "not tempted to buy shares in Adani companies"
To see why he takes that position (it is to do with the lack of transparency and conflicts of fiduciary duty inherent in family run conglomerates) read Prof aswath Damodaran's blog on the Adani Hindenburg question is here: aswathdamodaran.blogspot.com/2023/02/contro…
Today's stock prices in my virtual Adani Group Portfolio on Google Finance is all green Ive included Patanjali Foods just as a contrast 
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