Adani Group companies’ shares rebound

New Delhi, January 3

Adani Group chairman Gautam Adani on Wednesday welcomed the Supreme Court order, which declined to transfer the probe into the Hindenburg’s allegations against the group from markets regulator SEBI to a special investigation team (SIT) or the CBI.

“Satyameva Jayate. I am grateful to those who stood by us,” Adani posted on X. “Our humble contribution to India’s growth story will continue,” he added.

Truth has prevailed

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The Supreme Court judgment shows that truth has prevailed. Satyameva Jayate. I am grateful to those who stood by us. —Gautam Adani, Chairman, Adani group

The apex court also asked SEBI to complete within three months its probe into two pending cases out of 24 cases.

Meanwhile, shares of all Adani Group companies climbed after the Supreme Court order. The combined market valuation of all the 10 group firms stood at Rs 15.11 lakh crore, thus adding Rs 64,189.16 crore in market valuation from Tuesday’s close. Adani Group companies lost about Rs 10 lakh crore of their combined market capitalisation in one month since January 24, 2023, when the Hindenburg Research report was published.

Adani Energy Solutions rose 11.60%, Adani Total Gas 9.84%, Adani Green Energy by 6% and Adani Power 4.99% on the BSE. Shares of Adani Wilmar also went up by 3.97% and that of NDTV 3.66%. Adani Enterprises rose 2.45%, Adani Ports 1.39%, Ambuja Cements 0.94% and ACC 0.10%.

The trend was even more marked in the morning trade when Adani Energy Solutions recorded gains of up to 17.83%, NDTV 11.39%, Adani Total Gas 10% and, Adani Green Energy and Adani Enterprises by over 9% each.