Adani Group stocks surged today as Hindenburg Research, the short-selling firm infamous for its critical reports, announced its immediate closure. Hindenburg’s founder, Nate Anderson, cited the completion of their “pipeline of ideas” as the reason for the firm’s shutdown.

The US-based short-selling firm that was behind reports that wiped out tens of billions from the market value of Adani Group, Hindenburg Research is finally shutting shutters. Here is a look at ‘Hindenburg-Adani’ saga.

Founder Nathan Anderson said Hindenburg's intense work had taken a toll on his personal life, and while there were no specific reasons for the closure, the plan had always been to shut down the firm after completing their current projects.