Why Ace Investor Who Injected $1.9 Billion In Adani Group Is Not Worried

The report by Hindenburg Research, which alleged fraud in Adani Group firms, has hurt Adani stocks but it missed to mention key details about the group, Rajiv Jain, the co-founder of GQG Partners, told Financial Times

The Adani Group's stock rout after a US short seller's report in January has not deterred Rajiv Jain, the co-founder of GQG Partners, from investing large sums in the group as he feels certain qualities of the Indian conglomerate will lead to the group's meteoric performance in the long run.

The report by Hindenburg Research, which alleged fraud in Adani Group firms, has hurt Adani stocks but it missed to mention key details about the group, Mr Jain, 55, told the British newspaper Financial Times.

"Is this perfectly clean? No, it's not. Is it fraud? No, it's not. So the difference between the two is what we're talking about. In the meantime, you are getting irreplaceable assets, at very attractive valuations, which have some tremendous upside," Mr Jain told the newspaper.

"Physical assets, regular assets, monopolistic assets - those are hard to replicate," said the owner of the Florida-based firm.