There will be no immediate impact on the ratings of Adani group companies: Fitch
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American financial research firm Hindenburg Research has accused the group led by industrialist Gautam Adani of indulging in “blatant stock manipulation and accounting fraud”. After this allegation of the company, the shares of the group companies are continuously falling.
New Delhi. Fitch Ratings on Friday said there will be no immediate impact on the ratings of Adani group companies and their securities in the wake of a ‘short seller’ report alleging misconduct at Adani Group. Significantly, American financial research company Hindenburg Research has accused the group led by industrialist Gautam Adani of indulging in ‘open stock manipulation and accounting fraud’.
After this allegation of the company, the shares of the group companies are continuously falling. The rating agency said in a statement that it expects no major changes to its forecasted cash flows.
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