Gautam Adani: the billionaire vs the short seller | FT FIlm

In 2022, the Indian businessman was the third richest man in the world but a short report at the start of 2023 saw the value of his listed companies fall by over $100bn. The fallout has spread beyond the markets and into politics as the story of Adani has become inextricably linked to Prime Minister Narendra Modi's vision of the new India

#GautamAdani #indiabusiness #india #narendramodi #adanigroup #companies

00:00 - Gautam Adani: the man building Modi's new India
02:26 - Who is Gautam Adani?
04:26 - The deals that made Adani
08:45 - Adani the business
12:34 - The Hindenburg report
16:55 - The mechanics of the short
17:51 - The aftermath 


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[FinancialTimes]

This video has been amended to correct the date at which Narendra Modi became Prime Minister of India.

In the previous version of this video a graphic at 3'06 showed a timeline of the key events in Mr Modi's career, it stated that he became prime minister in 1987, it should have said that he joined the BJP in 1987.

We apologise for the error.

[tvm]

Hindenburg did India (SEBI, courts) a favor. They did what the institutions couldn’t get Adani to do.

[YourEducationSaathi]

Funny to see Mahua Mitra commenting on “Democracy” where her party has just won an election in the most undemocratic election ever held in India with goons and bombs 😂

[mohitjain]

I like how Mahua Moitra can talk with such confidence about something she has no clue about.

[ambition]

0:49: 💼 The Adani scandal reveals the need for regulatory reform in India's crony capitalism system.
3:40: 📚 Adani's rise in India's infrastructure sector is closely aligned with the government's focus on rapid infrastructure development, and there are allegations of possible corruption or cronyism in his business dealings.
9:36: 📈 The Adani Group, a conglomerate in India, has been able to execute ambitious infrastructure projects and deliver on the country's need for roads, airports, and energy.
11:08: 📰 The Adani group faced doubts and questions about their valuations, offshore vehicles, and control over the press, but took legal action against critics until a report by Hindenburg brought all the evidence together.
14:14: 🔍 The report by Hindenburg Research on Adani's alleged market manipulation has caused an outcry in parliament and raised concerns about the government's relationship with the billionaire.
17:46: 📉 Hindenburg's report on Adani companies exposes potential market manipulation and corporate governance issues.
20:34: 📈 GQG invested $2bn in Adani companies, reassuring banks and investors of their soundness, but facing challenges in convincing sceptics and political opponents.
Recap by Tammy AI

[pushpindersingh]

India needs Airports but Adani never built any new Airport. It just acquired Airport operating contracts.

[troyatwork]

Adani's flagship port was begun under Congress rule in Gujarat ... he has connections in both parties.. In India as in other countries, once you grow to be a certain size dealing with govt agencies and politicians is inevitable.. It is not ideal but hardly a phenomenon unique to India ..

[mardiniwilldern]

“You can’t be the CEO of two companies at the same time.”
Elon Musk: I am a joke to you?!

[satishkpradhan]

I have been indian energy and infrastructure for 1.5 decades here are the facts:-
1. In 2009 when I joined Energy sector, Congress had done bid for private players for energy. With land and coal assets being sold. My company (govt) had the most experience and the cheap plants but still all bids went to private players some of whom had no energy sector experience. All this manipulation done during Congress that lead to CoalGate and Spectrum Scams.
2. If govt makes policy and you align hard to it to get benefit then its not benefit. Any infrastructure company can do that like Tata or Reliance. It is stupid to think that a country of 1.4 billion with rising middle class will not import products or take flights. Reliance has gained via internet expansion and Adani via Infrastructure.
3. Basic of Logic Correlation is not equal to causation. The use of word "Virat Kohli" has increased by 9 times as Adani stock price (currently at 6 times) in last 9 years. Does it mean Kohli has ties with the prime minister? The share of asian paints have risen faster than Adani Stock in last 9 years. Where is its Hidenburg report? Even Transport Corporation of India has better performance than this without being a household name.

[Nk-iwkd]

The opposition parties which you have interviewed questioning Adani have millions and billions of dollars of corruption scandals under their umbrella. Which spoils your projection on the whole .😂

[mayurkanth]

People like Mohua Moitra are the reason Bengal Is so poor today.

[ramji_ki_katha]

Amazed to see Mahua Moitra here. She was Ex Vice President of JP Morgan which has majority stake in Heidenberg Research, so literally it was JP Morgan which made money by short selling and Mahua Moitra was continuosly making comments and speeches in Parliament before the Report came out. How come no one is questioning this lady, she was clearly used as a tool in India by JP Morgan to create havoc like scenario of India crasing !!!

[vikrammondal]

The funny thing is the Adani stock is back where it was. Just evil intention of a short seller group

[pressto]

In Brazil there were also populist governments that promoted national champions. The consequences were terrible for the population, corruption, inflation, fiscal adjustments. Few benefited at the expense of public money and utopian nationalist discourse.

[rahul]

lets run this video again 5 years from now....adani stocks would be sky high....

[ahanz]

What do you mean to conclude? Once he faced financial crisis all the big business tycoons came to give support for him. Adani group is inevitable entrepreneur in india for its development 🇮🇳

[srini]

This "FT Film" is so laughable. Adani companies are just a part of Indian stock market. The one guy is so funny when he said that India'a image has taken a hit. On the day of this video release, Indian stock markets are at a record high :)

[sashrhman]

This fast expansion obviously raised many questions over the years but if you have Modi ji on your side, you’re untouchable

[rohitmpanchal]

It is an open secret that Adani was able to scale these heights only with close ties and participation of Modi as CM and as PM. Banks have kept their treasuries open for him and continued to extend huge loans and the regulatory authorities have preferred to look the other way. Adani has rarely created a green field project, majority of acquisitions have been facilitated by the government at heavily discounted prices. No questions have been raised as to who are the overseas investors. Due to predatory takeovers, Indian private industrialists are vary of investing in the country and are seeking investments abroad.

[Erikkurilla]

I'm pleased that I persevered despite the challenging times. At the age of 55, I am on track to retire next year with three fully paid-off properties worth 4.5 million dollars. One of these properties serves as my residence, while the other two generate rental income of $80, 000 per year. Additionally, I will receive an annual income of $20, 000 from my super, providing me with a total of $100, 000 per year to live a comfortable life. I am debt-free and remain motivated.