Today the Supreme Court of India will start hearing a couple of petitions pertaining to the Adani Group. One seeks initiation of proceedings against Nathan Anderson, the head of Hindenburg Research, for releasing a report on the ports-to-media conglomerate that sent many of its stocks into a tailspin. The other, filed by a Congress leader from Madhya Pradesh, seeks a probe into LIC's and SBI’s investments in the Adani Group. As the Hindenburg saga assumes political and legal overtones, there might be other storms heading Gautam Adani’s way on the business side of things. In 2021, we try to published the stratospheric and rather disturbing rise in the stock price of one entity named Adani Total Gas. Cut to 2023, and amid the mayhem ensuing post-Hindenburg, this very entity's stock has seen the worst bloodbath. For those who think the worst is over, today’s articles is a revelation of sorts. They detail the potential repercussions of the battering of the Adani Total Gas stock for some of the group’s other businesses. What’s more, its relationship with French energy giant TotalEnergies SE, which owns more than a third of Adani Total Gas and has investments in other Adani group companies, could come under pressure.
