Unusually, Hindenburg — a short-seller that makes money when stocks fall — is attacking a market regulator, rather than a specific stock.
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The short-seller said Buch and her husband held stakes in an offshore fund where a substantial amount of money was invested by associates of Vinod Adani, brother of Adani group chairman Gautam Adani. BuchUnusually, in this instance, Hindenburg — a short-seller that makes money when stocks fall — is attacking a market regulator, rather than a specific stock.
"The accusations can have a harmful impact if they spark worries over institutional credibility at a time when foreign inflows are volatile and concerns are rising over expensive valuations of the Indian stock market," Shumita Deveshwar, chief India economist at TS Lombard, told CNBC's Inside India. However, investors should not forget that India is an emerging market and carries some inherent risks as a result, according to Mohit Kumar, chief financial economist at Jefferies.
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