US-based Investment research firm - Hindenburg Research, a US-based short seller, has announced its decision to shut down operations. The organisation shot to limelight after it made allegations of financial irregularities on some big - name businesses including the Adani group.

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.

Hindenburg Research, the short seller that had targeted several business groups in the past, is going to be disbanded, its founder Nate Anderson has said.