“400” page answer by Adani.
350 pages are annex
The answers to the hindenburg questions feel really weak.
Look at page 35, if you want to get a feeling for it:
That is usually the level of the answers. The answer is hardly ever directly related to the question but rather. “courts already disproved your accusation, see annex, we don’t dignify your follow up question with an anwser” or “what we do here is maybe not directly illegal in India”
It reads like what it likely is. Adani is a shady infrastructure company (AFAIK they all are), but it is politically backed to do so in India to a degree.
Also: 01.02 is budget day in India which can easily move INDA +/- 5%.
=> hopefully has 2 more red days in it still. I would mostly sell and then wait before 01.02.
