Virender Sehwag calls out 'hitjob on India’s market' amid Adani-Hindenburg controversy

Amid the Adani Group and Hindenburg report controversy, Indian cricketer Virender Sehwag has commented that there is a 'hitjob' on India's market. Sehwag took to his official Twitter handle to call into question several allegations on Indian markets, saying that foreigners aren't able to tolerate India's growth. He went on to claim that the "hitjob on India's market' looks like a well-planned conspiracy. 

"Goron se India ki tarakki bardaasht nahi hoti. The hitjob on India’s market looks like a well-planned conspiracy. Koshish kitni bhi kar lein but as always, Bharat aur majboot hi nikalkar ubhrega (Foreigners can't tolerate India's growth. The hitjob on India’s market looks like a well-planned conspiracy. No matter how hard you try, India will always emerge stronger)," Sehwag wrote. 

Goron se India ki tarakki bardaasht nahi hoti. The hitjob on India’s market looks like a well planned conspiracy. Koshish kitni bhi kar lein but as always, Bharat aur majboot hi nikalkar ubhrega.

— Virender Sehwag (@virendersehwag)

The shares of Adani Group companies have seen wide fluctuations since a report by Hindenburg Research made a slew of allegations against the conglomerate. The Adani Group has called the report 'rife with conflict of interest'. The Adani Group released a 413-page statement in response to the Hindenburg Research report, which alleged stock manipulation and use of tax haven on the part of the conglomerate. 

Adani-Hindenburg controversy

Meanwhile, markets regulator SEBI (Securities and Exchange Board of India) have maintained that it is committed to ensuring the stock market's integrity, and all necessary surveillance measures are in place to address any excessive volatility in individual shares. 

Adani promoters have agreed to pre-pay USD 1,114 million for the release of pledged shares of its companies ahead of its maturity in September 2024, the conglomerate said in a statement. The shares belong to Adani Green Energy, Adani Transmission and Adani Ports & Special Economic Zones. 

With the repayment of such amount,168.27 million shares of Adani Ports & Special Economic Zones representing (12% of the promoter's holding) will be released in due course.

Also, 27.56 million shares of Adani Green (representing 3% of the promoter's holding) and 1.77 million shares of Adani Transmission (1.4% of the promoter's holding) will be freed. 

"This is in continuation of promoters' assurance to pre-pay all share-backed financing," Adani Group said in a statement.

Image: PTI