Adani Group stocks: With a three-year regulatory overhang finally removed, brokerages are warming up to the Adani pack, steadily raising 'buy' calls across the conglomerate’s diverse businesses
Adani Group stocks surged as much as 13 percent after Sebi cleared Gautam Adani and top executives of market-manipulation allegations first raised by US short-seller Hindenburg Research. The order revived investor appetite and rekindled hopes of a broader re-rating across group companies
Adani Group stocks share price: SEBI cleared the conglomerate and Gautam Adani of stock manipulation charges made by Hindenburg Research, citing no evidence of related-party fund flows or insider trading.
Hindenburg Research, the US-based short-selling firm, launched a targeted campaign against the Gautam Adani-led conglomerate in early 2023, publishing scathing reports that erased billions off the group's market value.
Meanwhile, others like Adani Power, and Adani Green Energy also witnessed buying from lower levels which lifted these stocks 3-6 percent higher in morning trade, However, the stocks failed to hold onto their gains and slipped back into the red.
Markets were quick to shrug off early jitters from a new Hindenburg Research report alleging the SEBI chief's involvement in offshore entities connected to the Adani Group. Consequently, the Indian benchmarks--the Nifty 50 and Sensex, closed the day largely unchanged.
Adani Group’s $213 billion succession plan takes center stage as Gautam Adani outlines a strategic leadership transition, setting the stage for his sons and nephews to steer the conglomerate.
The investment spans renewable energy, cement, data centre, and city gas distribution sectors and will also generate 10,300 employment opportunities
After two days of remarkable gains, Adani Group stocks experienced profit booking, leading to a pullback with key companies retracing up to 5% on November 30.
MSKA & Associates Chartered Accountants has been appointed as the new auditor of Adani Ports and Special Economic Zone.