Adani Group Sees Market Surge After SEBI Clearance

Adani Group companies experienced a surge in market capitalisation, gaining over Rs 69,000 crore, following SEBI's clearance in the Hindenburg case. The regulatory clean chit boosted investor confidence, leading to sharp increases in stock prices across the group's entities.

In a remarkable financial upturn, Adani Group companies gained over Rs 69,000 crore in market capitalisation in a single session on Friday. This surge was driven by a buying frenzy after SEBI issued a clean chit in the high-profile Hindenburg case.

The regulatory decision dismissed allegations of stock manipulation, restoring investor confidence and causing a sharp rise in Adani stock prices. Leading the upward trend, Adani Power saw a 12.40% increase, with Adani Total Gas, Adani Green Energy, and Adani Enterprises also posting impressive gains.

Morgan Stanley's initiation of coverage on Adani Power further bolstered the buying spree, marking a return of confidence among global institutional stakeholders. This rally signals a significant turnaround for the conglomerate, following SEBI's findings of no evidence supporting Hindenburg's accusations that had initially wiped out USD 150 billion in market value.