Adani Group Curbs Ambitious Plans Following Hindenburg Report Allegations.

Adani Group, one of India's largest conglomerates, has reportedly scaled back its ambitious plans following a scathing report by short-seller Hindenburg Research. The report, published in February 2023, accused Adani of accounting irregularities and overstating the value of its assets.

According to sources close to the matter, Adani has put several major projects on hold, including a proposed $10 billion investment in a new coal mine in Australia. The company has also halted plans to build a new airport in Mumbai and has shelved its plans to enter the Indian telecom sector.

The move represents a significant setback for Adani, which had been aggressively expanding its business portfolio in recent years. The company had set its sights on becoming a major player in the renewable energy sector and had planned to invest heavily in solar and wind projects.

Adani has denied the allegations made by Hindenburg Research, but the report has nevertheless had a significant impact on the company's reputation and its ability to attract investment.

The Adani Group was founded by Gautam Adani in 1988 and has since grown into a diversified conglomerate with interests in ports, logistics, energy, and other sectors. Despite the recent setbacks, the company remains one of India's largest and most influential business groups.