News Snapshot:
The Adani Group carries three times as much debt as it should, Aswath Damodaran, whose work has been widely published in leading finance journals, said in his blog post. However, the valuation guru also said that it shows bad business practice and not con as alleged in the US-based short seller Hindenburg report. “The Adani Group collectively carries about three times as much debt as it should, confirming that the group is over-levered, but note that this is bad business practice, not a con," Damodaran said. Damodaran argued that the cost of capital shows that there is little, if any,...
