Wikipedia's allegations on Adani Group explained: Rs 40,000 crore wiped from share value

Adani Group's woes are far from over. The company lost Rs 40,000 crore in market valuation as all of its 10 stocks were under strain. The fresh volley of losses for the Gautam Adani-led ports-to-airports conglomerate came a day after Wikipedia claimed some paid editors created 'puffery' around Adani, his family and his businesses. The website claimed non-neutral material was added to the group's profile and warnings were removed from the data.

According to reports, Adani Enterprise share prices dropped a massive 10 percent to Rs 1,411. The prices of Adani Transmission, Adani Total Gas, Adani Wilmar, and Adani Green also witnessed a sharp drop of around 5 percent. 

With this, the Adani Group's market cap went below the 100 billion dollars mark. Its shares have lost 60 percent of the values since Hindunberg accused it of stock manipulation. On January 24, the US-based short seller said the Adani Group had been doing accounting fraud. Its stocks lost thousands of crores of value.

Here's what Wikipedia claimed

Wikipedia is a website where anyone can moderate content. So basically anybody with an account on Wikipedia can write or delete content and essays on the website, one of the biggest in the world. Wikipedia maintains neutrality of content by allowing everyone to modify the script. So if one person writes wrong information, there will be someone to correct it.

Wikipedia earlier this week claimed that the Adani Group attempted to con the website by writing non-neutral versions of Wikipedia. The company claimed that 40 undeclared paid editors revised nine articles on Adani, his family and his businesses.

Adani has been trying to inspire confidence in investors by planning prepayments of loans.

The website said the sock puppets of the Adani group -- who were later banned -- tried the PR exercise in order to mislead the millions of readers of the website.

The agency also claimed that some employees of the Adani Group were also involved. It said that a lot of fake information was added to make the group look good, amid the Hindenburg-Adani saga.

All these people were blocked. A lot of billionaires have been accused of such manipulation. These include: Kenneth C Griffin, Robert T Brokeman, Robert F Smith etc.

Though the Adani group denied Hindenburg's allegations, no information has been received on Wikipedia's accusations.