Gautam Adani talking while seated.
Gautam Adani, founder and chair of Adani Group.
  • Hindenburg Research accused Adani Group of "brazen stock manipulation" in a scathing report published last week.
  • Founder Gautam Adani's wealth has plunged by over $20 billion since the report was published.
  • Here's what you need to know about Adani and Hindenburg.

Adani Group and Hindenburg Research are locked in a war of words that's wiped almost $72 billion off the Indian conglomerate's market value in just three days.

Here's what you need to know about the ongoing feud.

Hindenburg has accused Adani of market manipulation and accounting fraud

Hindenburg is a short-seller – meaning it sells stocks it's borrowed to make money from declines in their price.