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Hindenburg Research has shut down, as announced by founder Nate Anderson. Established in , the firm gained prominence for its corporate fraud reports affecting many companies, including the Adani Group. However, Hindenbug in its very early days had alleged wrongdoing against an Indian film company. Check the details SAT directed them to file a reply or objection along with a stay vacation application against SEBI's order within three weeks. The Corporate Affairs ministry ordered the probe after it was "satisfied" that an inspection was required to check allegations of fund siphoning, one of the officials, who did not want to be named, told Reuters.
Indian equity indices closed lower for the second consecutive session due to negative cues from global markets and higher-than-expected interest rate hikes in Britain. Adani Group and Eros International Media were the top losers. Hawkish central bank policies have soured risk appetite and resulted in the decrease of market capitalization by Rs 2.
The company was told its accounts were "overstated and do not present a true and fair picture of the financial health of the company". Eros International said it is seeking legal advice about the matter. Asian stocks headed for their worst week in three months on Friday as a string of hotter-than-expected inflation prints and hawkish central bank surprises made investors nervous about the economic toll of taming runaway prices.
Regulator has barred its promoters, and CEO from the securities market on alleged breach of trade practice regulations. Analysts have advised investors to steer clear of companies with a high levels of debt.
In the Nifty pack, 20 stocks were trading in the green, while 30 stocks were in the red. The company tapped a credit line of Rs crore through a combination of long-term and short-term bank loans, and other forms of bank credit. Ekansh has a knack for spotting potential multibaggers in smallcap and midcap segments. However, such a sharp rise does not seem to reflect the company's lacklustre performance in the nine months to December The Indian market is expected to open negative on Friday tracking weak trend seen in other Asian markets.