Speaking at the Whistling Woods International Institute on Friday, Adani Group Chairman Gautam Adani shared how a “false story” once shook his empire, erasing $100 billion of market value within days. He said this showed how quickly false narratives can spread and influence public perception.

Adani said that in January 2023, the US-based short seller Hindenburg Research launched what he called a “calculated attack” against his group. The report accused Adani companies of stock manipulation and accounting fraud.

“It was not just a report, but a manipulated script designed to provoke doubt,” he said. Within days, Adani Group companies saw their shares crash, wiping out over $100 billion in market value – even though, he added, “no fundamentals had changed, and no facts had failed.”

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