Adani Saga continues with Forbes report

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February 21, 2023
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Internationally reputed financial magazine Forbes in its recent report has suspected round tripping by offshore funds owned by Vinod Adani to benefit Adani group companies. This report has given further credence to the Hindenburg report of wrongdoing by the Adani Group. Now it is up to the Indian agencies more particularly SEBI to investigate the whole matter to reveal the truth before the Indian investors as well as foreign investors who invest in India. It’s great that SEBI has reportedly begun its investigation.

What are the implications for the investors- India with its continued growth story, great demographics and sound macro-economic factors will continue as the bright spot for the investors for many many years. Broader market has not been much impacted by the Adani saga largely because there is little retail participation in the Adani stocks. So, the market remained more or less immune to this whole controversy. Much will depend on how our regulators will act in a transparent manner to keep the confidence of the people in general and investors in particular intact.

Manoj Pandey