Adani isn't going down. Modi is his puppet and Modi has gifted him monopolies in dozens of India's strategic sectors. That's all free money which will of course need time to actually translate to cash flow, that's why Adani is building so much debt because he is expanding as much as possible without caring about revenues and profits (he will squeeze these later..)
Until that cash cow starts bringing revenues + profits to him, the Indian government will keep giving him money by all means necessary. The guys who did the investigation might be out of luck this time as they are not fighting just against Adani but against the whole Indian government and Modi's political party (and his future). They will definitely make some money by short selling but not as much as they hoped
Until that cash cow starts bringing revenues + profits to him, the Indian government will keep giving him money by all means necessary. The guys who did the investigation might be out of luck this time as they are not fighting just against Adani but against the whole Indian government and Modi's political party (and his future). They will definitely make some money by short selling but not as much as they hoped