Mumbai’s stock market buzzed with excitement on Friday as Adani Group shares skyrocketed, thanks to a big win from market watchdog SEBI in the long-running Hindenburg case. Investors cheered as the group’s market value shot up by over Rs 46,000 crore in just one day, pushing the total to Rs 13.8 lakh crore. This marks a huge turnaround for Adani stocks, almost 33 months after Hindenburg Research first stirred up controversy with its explosive report.
Leading the charge was Adani Power, which jumped 13.42% to close at Rs 716.10. Adani Total Gas wasn’t far behind, rising 7.55% to Rs 652.80. Other stars included Adani Enterprises, up 5.25% at Rs 2,528, and Adani Green Energy, which climbed 5.48% to Rs 1,032.50. Even Adani Ports and Special Economic Zone joined the rally, gaining 1.15% to end at Rs 1,429.
The good news hit after SEBI cleared the Adani Group of all charges. The regulator looked into Hindenburg’s claims about deals involving companies like Milestone Tradelinks, Rehvar Infrastructure, and Adicorp Enterprises. SEBI found no violations of market rules—these weren’t related-party transactions and followed all listing and disclosure norms.
Adani Group Chairman Gautam Adani wasted no time celebrating on social media platform X. “After an exhaustive investigation, SEBI has reaffirmed what we have always maintained, that the Hindenburg claims were baseless,” he posted. He also shared his thoughts on the impact: “We deeply feel the pain of the investors who lost money because of this fraudulent and motivated report. Those who spread false narratives owe the nation an apology.”
Gautam Adani stressed the group’s strong principles, saying, “Transparency and integrity have always defined the Adani Group.” He added, “Our commitment to India’s institutions, to India’s people and to nation building remains unwavering.”
This isn’t the first clean slate for Adani. An expert panel appointed by the Supreme Court had already found no evidence of wrongdoing earlier. With SEBI’s verdict, confidence in Adani stocks is back, and the market rally shows just how much investors were waiting for this moment.
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