9 days ago
Business Standard
The big stock-market scams in India over the past 30 years exploited vulnerabilities in the local banking system. If Hindenburg is right, then a network of shadowy operators has placed itself right in the middle of those conflicting impulses, and is exerting outsize influence over India’s markets from overseas in cahoots with honchos back home. Meanwhile, within India, ever-rising stock prices have become a symbol of muscular national pride. And that, more than the allegations about Adani stocks, is what should worry global investors: Are India’s public markets trustworthy? More than anything else, it is this threat of darkness creeping up on India’s markets that should worry in the Hindenburg-Adani saga.
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