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Who’s the loser?

EducationWorld May 2023 | Magazine Postscript

Hardly two months have elapsed since the Hindenburg Report of a shady outfit of confessed short-sellers with no fixed address and five ‘researchers’ on their payroll, wiped out a staggering Rs.9 lakh crore of the market value of Ahmedabad-based coal, ports, green energy, grain silos and airports tycoon Gautam Adani on the Indian stock market. But suddenly the country’s market pundits and investigative journalism stars have gone silent on the issue of who is/was Hindenburg, and who were the real short-sellers behind their damning motivated report.

By now the latter must have delivered their Adani Group shares parked two months ago, paid off Hindenburg and are no doubt partying with their ill gotten gains. Despite official indignation, there is no SEBI investigation and little is being heard about the Supreme Court ordered enquiry into this matter which Adani has welcomed, because quite obviously he is the victim rather than the villain of this staged drama.

Now that the dust has settled, who are the real losers in the panic created by this report generated by the rag-tag-and-bobtail Hindenburg outfit? Certainly not Adani who is still in the global Top 20 rich list and is unlikely to have been reduced to a chapatis and water menu. Nor Hindenburg or their employers who have benefitted mightily. The real losers are millions of bona fide investors and unemployed youth countrywide.

Following RaGa’s naive discovery that Adani is an arch villain — and nobody including the prime minister — is ready to speak up for him, this go-getting tycoon has abandoned or delayed his infrastructure expansion plans in India and is busy building ports and infrastructure abroad. That won’t bother RaGa. Despite never having earned a degree, held a job or taken a business risk, he’s doing alright. According to the Association for Democratic Reforms which keeps track, RaGa has assets and wealth valued at Rs.16 crore.

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