Highlights

  • Hindenburg report triggered a steep sell-off in Adani Group stocks which nosedived, wiping out about 75% of their value
  • These stocks have sharply surged up to 160% since February 2023

Latest news

\'Mereko marwaoge\': Rohit Sharma's hilarious response to Pujara, Rahane 'retirement mistake' goes viral

\'Mereko marwaoge\': Rohit Sharma's hilarious response to Pujara, Rahane 'retirement mistake' goes viral

Trains movement hit in Punjab as farmers squat on tracks as part of Rail Roko protest

Trains movement hit in Punjab as farmers squat on tracks as part of Rail Roko protest

Karan Aujla delivers electrifying performance in Delhi-NCR

Karan Aujla delivers electrifying performance in Delhi-NCR

Russian oil spill contaminates 50km of Black Sea beaches

Russian oil spill contaminates 50km of Black Sea beaches

Two Monkeypox cases reported in Kerala

Two Monkeypox cases reported in Kerala

Congress twisted facts, distorted my statement on Ambedkar: Amit Shah

Congress twisted facts, distorted my statement on Ambedkar: Amit Shah

2 dead, 75 rescued after speed boat rams into ferry off Mumbai coast

2 dead, 75 rescued after speed boat rams into ferry off Mumbai coast

PM Modi to visit Kuwait on December 21-22

PM Modi to visit Kuwait on December 21-22

Adani Group stocks continue to rally; Adani Enterprises zooms nearly 13%

Adani Group stocks have been on the radar of investors since Hindenburg's report was released on January 23, 2023 allegedly accusing the Gautam Adani-led conglomerate of malpractices and manipulation of the stock prices. 

Adani Group stocks continue to rally; Adani Enterprises zooms nearly 13%

Days after the Supreme Court-appointed panel found no evidence of regulatory failure by the capital markets regulator SEBI, shares of all the ten listed Adani Group firms continued their rally on Tuesday, with Adani Enterprises climbing nearly 13%.

The SC appointed panel has been looking into the allegations made by Hindenburg Research.

On Tuesday morning, Shares of Adani Wilmar jumped 10%, Adani Ports rallied 5%, Adani Power, Adani Total Gas, Adani Green and Adani Transmission were all up 5% each.

NDTV advanced 4.97% and ACC climbed 0.39%.

The Adani group stocks continued their upward move after seeing a surge on Monday as well with Adani Enterprises climbing nearly 19%.

Adani stocks have been on move since the report by the US-based short seller triggered a steep sell-off in Adani Group stocks which nosedived, wiping out about 75% of their value.

However, within a span of four months, Adani Group stocks after testing their new lows, have recovered smartly and a few of them have turned multibaggers from their respective 52-week lows. These stocks have sharply surged up to 160% since February 2023.

Adani-Hindenburg row

The SC-appointed panel looking into allegations made by Hindenburg Research found no evidence of a 'regulatory failure' by the market regulator Securities and Exchange Board of India (SEBI).

According to the 173-page report, the committee found "no evident pattern of manipulation" in the sharp stock price rise in billionaire Gautam Adani's companies that can be attributed to "any single entity or group of connected entities."

Nevertheless, investigations are still being conducted. The Supreme Court has given SEBI until August 14 to wrap up its investigation into potential securities law violations by the Adani Group as well as any odd market activity in its stocks.

ADVERTISEMENT

Up Next

Adani Group stocks continue to rally; Adani Enterprises zooms nearly 13%

Adani Group stocks continue to rally; Adani Enterprises zooms nearly 13%

Parliamentary Panel bats for legal guarantee of MSP to protect farmers' interests

Parliamentary Panel bats for legal guarantee of MSP to protect farmers' interests

Bihar fully prepared to create robust business ecosystem, investment safe: Dy CM Samrat Choudhary

Bihar fully prepared to create robust business ecosystem, investment safe: Dy CM Samrat Choudhary

"If they tax us, we tax them...," Trump Signals Tough Trade Stance; Reciprocal Tariffs on India

"If they tax us, we tax them...," Trump Signals Tough Trade Stance; Reciprocal Tariffs on India

Top 5 Losers of NIFTY 50: A Day of Decline for Leading Stocks

Top 5 Losers of NIFTY 50: A Day of Decline for Leading Stocks

India's renewable energy capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi

India's renewable energy capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi

ADVERTISEMENT

editorji-whatsApp

More videos

 Indian Markets Open Lower Amid Caution Ahead of U.S. Federal Reserve Meeting

Indian Markets Open Lower Amid Caution Ahead of U.S. Federal Reserve Meeting

Five of top-10 most valued firms together add Rs 1.13 lakh Crore in market valuation

Five of top-10 most valued firms together add Rs 1.13 lakh Crore in market valuation

Airlines are price takers, they do not have influence on prices they pay: IATA Chief Economist

Airlines are price takers, they do not have influence on prices they pay: IATA Chief Economist

India’s import of Russian oil drops in November on shrinking discounts

India’s import of Russian oil drops in November on shrinking discounts

Auto Expo to see highest-ever participation of vehicle manufacturers: SIAM

Auto Expo to see highest-ever participation of vehicle manufacturers: SIAM

Russia Eases Travel Norms for India, Visa-Free Travel Expected by 2025

Russia Eases Travel Norms for India, Visa-Free Travel Expected by 2025

Bitcoin's Rally Continues: Surpasses $106,000 on News of Trump’s Bitcoin Reserve Fund

Bitcoin's Rally Continues: Surpasses $106,000 on News of Trump’s Bitcoin Reserve Fund

Get Ready for PAN 2.0: QR Codes, Paperless Processes & More!

Get Ready for PAN 2.0: QR Codes, Paperless Processes & More!

Passenger Vehicle dispatches rise 4% in Nov as demand sustains post-festive period: SIAM

Passenger Vehicle dispatches rise 4% in Nov as demand sustains post-festive period: SIAM

Switzerland suspends MFN status to India, dividend income to face higher tax

Switzerland suspends MFN status to India, dividend income to face higher tax

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.