Adani Group Adds Rs 69,000 Crore In Market Cap After SEBI Order

Adani Group Stocks Rally After SEBI Clears Hindenburg Allegations

While the broader market indices Nifty and Sensex declined by 0.4 percent and 0.5 percent respectively, Adani Group companies experienced significant gains on Friday.

New Delhi:

Adani Group company shares witnessed substantial increases on Friday following the Securities and Exchange Board of India's (SEBI) decision to clear the conglomerate of allegations previously made by US short-seller Hindenburg Research.

Adani Power led the rally with a remarkable 12.4 percent increase, reaching its highest level since August 2024, just before its planned stock split next week. Adani Total Gas jumped 7.3 percent, while Adani Enterprises and Adani Green Energy rose by 5.1 percent and 5.3 percent respectively. Additional group companies including Adani Energy Solutions, Adani Ports, ACC, and Ambuja Cements also posted gains. Collectively, Adani firms added Rs 69,000 crore to their market capitalization, bringing the group's total valuation to approximately Rs 13.96 lakh crore.

In contrast to Adani's performance, the broader market indices declined, with the Nifty falling 0.4 percent and Sensex dropping 0.5 percent.

"Many foreign investors were previously hesitant to invest in these stocks due to the Hindenburg allegations. Now with a double seal, there's strong evidence of corporate governance and a clean chit, which will likely result in significant re-rating over the coming months," Deven Choksey from DRChoksey FinServ told NDTV Profit.

Gautam Adani responded positively to the regulatory decision, calling for an apology from those who he claimed spread "false narratives" based on Hindenburg's "fraudulent and motivated" report.

"After an exhaustive investigation, SEBI has reaffirmed what we have always maintained, that the Hindenburg claims were baseless. Transparency and integrity have always defined the Adani Group. We deeply feel the pain of the investors who lost money because of this fraudulent and motivated report. Those who spread false narratives owe the nation an apology," he stated on X.

During trading, Adani Power reached its 52-week high.

According to Bajaj Broking Research, "Adani group stocks surged after Sebi cleared the group in the Hindenburg probe, triggering renewed investor confidence and strong buying interest across the conglomerate."

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)