Virender Sehwag supports Adani Group, says “this is a well-planned conspiracy”

Indian cricketer, Virender Sehwag came in support of Adani Group after the laters company witnessed a sharp downfall since Hindenburg Research accused Adani of stock manipulation.

The cricketer backed the conglomerate in a twitter post writing, “The foreigners can't tolerate India’s development. This hit job is a very carefully thought out conspiracy. But try as hard as you can, India will come out stronger.”

Many users strongly disagreed with Sehwag’s statement. A user replied, “First of all, Adani is not India. Do not belittle India by saying this. Now the second and most important thing, start an inquiry immediately, and if found guilty, imprison them, even if it’s Adani or you.” Many users trolled the cricketer and told him to buy the Adani shares and show his support for the nation.


While supporting Sehwag’s statement, a user wrote, “Agreed, India has faced many challenges but has always emerged stronger. Our resilience and determination will see us through this too. Let's support and have faith in our country's progress.” Another user wrote, “Viru in opening batting, first ball out of the ground.”




The Union Finance Minister recently reacted to the Hindenburg Research’s report and said that the regulators must always be on their toes and act to keep the market stable. She also said many big firms like LIC have released their exposure to Adani Group and assured that the regulators will do their job.

Recently top banker, Uday Kotak said that he did not see any risk in India’s financial system due to current events. But Indian companies must rely on global sources for equity finance and debt.

FAQ

Q1.Why was Adani FPO called out?
Adani pulled out the FPO on February 1 citing the volatile market situation and its desire to safeguard investor’s interest.

Q2.When was Adani Enterprise founded?
Adani Enterprise was founded by Gautam Shantilal Adani in 1988.