Bhuma Shrivastava,
Bhuma Shrivastava is a Bloomberg reporter based in Mumbai, where she covers the conglomerates that dominate the Indian economy. She focuses on tracking these conglomerates as they create and destroy wealth while navigating challenges such as staying up-to-date with their various sectors and coordinating with beat reporters across teams and countries. Shrivastava's work also involves uncovering under-the-radar events that could be eroding a company's valuation. She has covered the push for expanding the metro system in India, reporting on the efforts and challenges associated with building mass transport systems across cities amidst red tape and regulatory hurdles. Shrivastava has also discussed her work in interviews, highlighting the importance of rigorous disclosures from companies and opaque intra-group financing and cross-holding structures. She acknowledges that reporting on conglomerates is a rewarding exercise due to the attention they receive from regulators, fund managers, and sell-side analysts worldwide.
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The Daily's Verdict
This author is known for its high journalistic standards. The author strives to maintain neutrality and transparency in its reporting, and avoids conflicts of interest. The author has a reputation for accuracy and rarely gets contradicted on major discrepancies in its reporting.
Bias
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Examples:
- The article is focused on the negative impact of the Adani Group after Hindenburg's report. However, it does not present any alternative perspectives or evidence to challenge Hindenburg's claims.
Conflicts of Interest
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Examples:
- The author works for Bloomberg, which may have a vested interest in reporting negative news about companies like Adani Group that could impact their stock prices and the overall market.
Contradictions
50%
Examples:
- The report led to significant bets against the Adani Group in the markets. However, Adani has largely recovered from the impact of the report and Hindenburg made just over $4 million in gross revenue from short positions on Adani's companies and about $31,000 from shorting Adani US bonds.
Deceptions
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Examples:
- The article does not present any evidence or alternative perspectives to challenge Hindenburg's claims. It heavily relies on the short-selling firm's report without providing a balanced view.
Recent Articles
SEBI Investigates Hindenburg Research for Alleged Collusion with Foreign Investor Over Adani Group Short-Selling
Broke On: Tuesday, 02 July 2024In January 2023, Hindenburg Research accused India's Adani Group of stock manipulation and accounting fraud, leading to significant losses. However, the short-seller itself came under investigation by India's Securities and Exchange Board (SEBI) for collusion with a foreign investor using non-public information to bet against Adani stocks. Kotak Mahindra Bank is also entangled in the controversy for its role in an offshore fund structure used by the investor. Hindenburg denies these allegations, but SEBI's investigation raises questions about transparency and regulatory oversight in India's financial markets.