New Delhi, May 23 Experts on Thursday exposed a toolkit against certain business activities of the Adani Group, linking a cartel of Communists, Pakistanis, Islamic radicals, billionaire George Soros and the Western deep state.
The toolkit was exposed after a section of foreign media, including The Financial Times (FT) and the George Soros-backed Organised Crime and Corruption Reporting Project (OCCRP), reported on Adani Group allegedly selling low-grade imported coal in India at the price of high-value coal 10 years ago.
According to the experts, the propaganda articles were written and supported by journalist Anand Mangnale.
OCCRP and Anand Mangnale posted a propaganda article, which was later re-posted by several people on their social media handles.
According to the experts, "The Financial Times of the UK is also part of the toolkit, and a propaganda article against Adani was also posted by the publication."
The experts also said the "editor of The Financial Times sits on the board of the Soros and Ford Foundation-funded company".
However, repeated attacks on the Adani Group, with similar allegations made in the past by the same two foreign media organisations -- The Financial Times and OCCRP -- is something that the market has stopped taking seriously.
According to US-based global brokerage Cantor Fitzgerald, the FT article is “just noise from a long time ago”.
The Financial Times posted a propaganda article against the Adani Group at 4:34 a.m. on May 22. The toolkit against the Adani Group started spreading on social media from around 7.49 a.m. when a prominent journalist posted the propaganda article.
At 9.42 p.m. the same day, another known activist posted the propaganda article.
Some prominent people also posted old propaganda articles against the Adani Group in the meantime.
The Indian market has appeared to shrug off the report as Adani Enterprises emerged as the top gainer in Nifty on Thursday with a 7.84 per cent rise in its share price.
Adani Ports was also among the top three gainers with a 4.73 per cent rise.
“We believe the market is inferring that this is an immaterial story, as do we,” Cantor Fitzgerald said in its note
Investors are seeing strong value in Adani Group stocks. In the past one year, the group’s market capitalisation increased by 57 per cent and stands at $200 billion now.
The stocks of the Adani Group companies saw great momentum on Thursday as the Indian indices went through a sharp rally, with the flagship Adani Enterprises jumping 8 per cent to emerge as the top gainer.
The 10 listed Adani Group firms now have Rs 17.23 lakh crore as their combined market valuation.
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