Adani Group shares experienced a significant increase on Friday, September 19, following SEBI’s decision to exonerate the company from Hindenburg’s accusations. SEBI’s conclusive statement indicated that there was no evidence of stock manipulation, insider trading, or related-party fund routing involving Gautam Adani’s companies. Adani Power’s stock climbed 8.8% to ₹686.95, while Adani Enterprises increased by 5.18% to ₹2,526.60. Additionally, Adani Total Gas surged 13.3% to ₹687.75, and Adani Green Energy rose 3.64% to ₹1,014.55. Adani Ports saw a 2% increase to ₹1,442.50, with ACC and Ambuja Cements also experiencing slight gains. This clean chit comes after SEBI’s comprehensive investigation into Hindenburg’s 2023 report, which had previously erased over $150 billion from Adani’s market capitalization.
Gautam Adani praised the ruling, labeling the allegations as “baseless” and called for an apology from detractors.
