Adani Stocks Surge Up to 10% After SEBI Clears Hindenburg Allegations
Shares of Adani Group companies jumped significantly on Friday after the Securities and Exchange Board of India (SEBI) gave a clean chit to Gautam Adani and his conglomerate. The move came in response to allegations made by US short-seller Hindenburg Research.\
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Strong Market Gains
The rally was broad-based across listed entities. Adani Total Gas surged 10%, leading the gains, while Adani Power advanced 7%. Flagship Adani Enterprises climbed nearly 5%, reflecting strong investor sentiment after the regulator’s order.
Other Adani Entities Rise
Other group companies also witnessed gains. Adani Ports and SEZ rose 2.5%, Adani Green Energy added 3.69%, and Adani Energy Solutions gained 3.88%. Cement majors Ambuja and ACC gained nearly 1% each, while NDTV jumped 5%.
SEBI’s Clean Chit
SEBI issued two detailed orders, confirming that there were no violations in connection with Hindenburg’s claims. The regulator clarified that the transactions in question were not related-party deals under the rules valid at that time. The definition was expanded only in 2021.
No Wrongdoing Found
The regulator also noted that loans flagged in the Hindenburg report were repaid with interest, with no evidence of fund siphoning. SEBI concluded there was no fraud or unfair trade practice, thereby dropping all proceedings against the group.
Relief for Adani Group
The clean chit is a major relief for the Adani Group, which had lost billions in market value after the Hindenburg report. Experts believe the closure of the case will boost investor confidence and pave the way for more institutional inflows into Adani stocks.
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