'Operation Zeppelin': Adani's strategic counter to Hindenburg Research

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'Operation Zeppelin': Adani's strategic counter to Hindenburg Research - Business Standard

Quick Summary:

Hindenburg Research, the forensic financial firm that challenged the Adani Group, took its name from the infamous airship that burst into flames upon arriving in New Jersey in 1937.

In January 2023, Hindenburg published a scathing report describing the Adani Group, one of India's largest conglomerates, led by one of its richest men, as "the largest con in corporate history".

The fallout was swift: stock prices plummeted, wiping out over USD 150 billion in market value at the lowest point, and the group's biggest public offering was abruptly scrapped.