The previous week saw volatility in the Sensex and Nifty due to global concerns about a possible US recession. Market experts are now anticipating further fluctuations today, influenced by new allegations from the US short-seller firm Hindenburg against SEBI chief Madhabi Puri Buch and her husband, Dhaval Buch.
These claims are expected to affect the stock market, particularly impacting Adani Group companies, including Adani Enterprises Ltd, Adani Power, Adani Green Energy Ltd, and Adani Energy Solutions Ltd, along with shares of 360 ONE WAM Ltd. Additionally, listed REITs may come under scrutiny, as Hindenburg alleged that SEBI proposed and implemented various REIT regulations.
Despite the potential for market disruption, analysts believe any impact will be temporary and short-lived. Vinit Bolinjkar of Ventura Securities commented that Hindenburg’s allegations are a “recycling” of old information, without any new evidence of wrongdoing, describing it as “old wine in a new bottle.”
Deepak Shenoy of Capitalmind expressed a similar sentiment on X (formerly Twitter), suggesting that the report leans toward sensationalism with little substance. Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, noted that most of the claims in the report are already known to the market and do not pose a significant threat to the Adani group’s long-term earnings potential, aside from a possible short-term reaction.