Adani Group Soars with SEBI's Green Light
Adani Group companies soared in market valuation by Rs 1.78 lakh crore within two days due to heavy buying after SEBI cleared them in the Hindenburg case. The positive sentiment led to a significant rise in shares, including Adani Power and Adani Total Gas, fueling investor optimism.
- Country:
- India
In a dramatic turn of events, shares of Adani Group companies surged on Monday, driven by a buying spree. This comes after the Securities and Exchange Board of India's (SEBI) clean chit refuted allegations of stock manipulation by Hindenburg Research.
Investors reacted positively, propelling the market valuation of the conglomerate by a staggering Rs 1.78 lakh crore over two consecutive days. Noteworthy hikes include Adani Power's near 20% jump, reaching its allowable upper limit.
Other key Adani stocks, such as Adani Total Gas and Adani Green Energy, followed suit, reflecting the newfound investor confidence post-SEBI's investigation conclusion.
(With inputs from agencies.)
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