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Short selling Adani: how an obscure US firm profited from triggering the Indian giant's price plunge

By Mark Humphery-Jenner, Associate Professor of Finance, UNSW Sydney
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A few weeks ago, Gautam Adani was indisputably India’s richest man.

Now his fortune is slipping away as the stocks of his many companies crash, thanks to the efforts of a relatively obscure US company named after the 1937 Hindenberg disaster (in which a hydrogen-filled airship caught fire, killing 98 people).

Adani’s personal fortune was an estimated US$150 billion in 2022. He catapulted past the previous richest Indian, Mukesh Ambani, on the back of the meteoric rise of Adani Group, a multinational…The Conversation


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