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Debjit Mukherjee: Hindenburg Research reports twelve short-selling firms profit from Adani’s losses. Most of them are foreigners. Three of these companies are Indian. Another is the Indian branch of a multinational bank. Four companies are from Mauritius. One company each from London, France, Hong Kong, Cayman Islands, Ireland saw huge gains.
Most of these companies have sprung up suddenly. Some of these firms started trading days before the Hindenburg Report was presented. Some started short selling by selling shares of Adani. It is also not clear who owns these companies. In short, their entire movement is suspicious.
