Did Adani Shares Just Rally by Rs 46,000 Crore in One Day?

Synopsis
Key Takeaways
- Adani Group shares surged by Rs 46,000 crore.
- SEBI cleared Adani of allegations from the Hindenburg case.
- Investor confidence appears to be recovering.
- Transparency and integrity are emphasized by the Adani Group.
- The group's market capitalization reached Rs 13.8 lakh crore.
Mumbai, Sep 19 (NationPress) The stock prices of Adani Group companies experienced a significant surge on Friday following the announcement from the market regulator, the Securities and Exchange Board of India (SEBI), which cleared the conglomerate of any wrongdoing in the Hindenburg case. This boost added over Rs 46,000 crore to investors’ wealth in just one day.
This resulted in the group's total market capitalization soaring to Rs 13.8 lakh crore, reflecting a noticeable shift in market sentiment nearly 33 months after the initial controversy began.
The rally was spearheaded by Adani Power, which leaped by 13.42% to close at Rs 716.10, with Adani Total Gas following closely, gaining 7.55% to finish at Rs 652.80.
Adani Enterprises Ltd rose by 5.25% to Rs 2,528, while Adani Green Energy climbed 5.48% to reach Rs 1,032.50.
Adani Ports and Special Economic Zone also increased, closing up by 1.15% at Rs 1,429.
This surge followed SEBI’s dismissal of the allegations from Hindenburg Research, concluding that the transactions involving Milestone Tradelinks, Rehvar Infrastructure, and Adicorp Enterprises did not violate market regulations.
The regulator clarified that these transactions were not categorized as related-party dealings and adhered to all listing and disclosure requirements.
In response to the ruling, Adani Group Chairman Gautam Adani expressed on social media platform X that SEBI’s thorough investigation corroborated the company’s long-held position — that the claims made by Hindenburg were unfounded.
“Following a comprehensive inquiry, SEBI has confirmed what we have always stated, that the Hindenburg claims were without merit,” Gautam Adani wrote.
“We empathize deeply with the investors who suffered losses due to this deceitful and motivated report. Those who propagated falsehoods owe the nation an apology,” the billionaire remarked.
He emphasized that transparency and integrity are the core values of the Group and called for accountability from those who disseminate misinformation.
“Transparency and integrity have been the hallmarks of the Adani Group,” Gautam Adani reiterated.
“Our dedication to the institutions of India, its people, and nation-building remains steadfast,” he concluded.
An expert panel appointed by the Supreme Court had also previously found no prima facie evidence of any misconduct.