On Friday, September 19, Adani Group stocks became the top highlight of the stock market. This came after a big ruling by SEBI (Securities and Exchange Board of India) on Thursday. The regulator gave a clean chit to Gautam Adani and his group from all allegations of stock manipulation that were made earlier by US short-seller Hindenburg Research.
According to SEBI’s report, there was no proof that the Adani Group used hidden routes or related parties to funnel money into its listed firms. This pushed investor confidence sharply, leading to a strong rally in multiple Adani stocks.
Big Gains Across Adani Group Shares
Adani companies saw strong buying interest in morning trade:
- Adani Power shot up 8.8% to ₹686.95.
- Adani Enterprises jumped over 5% to ₹2,526.60.
- Adani Total Gas skyrocketed 13.3% to ₹687.75.
- Adani Green Energy gained 3.6% to ₹1,014.55.
- Adani Ports moved up by 2% to ₹1,442.50.
- Cement firms ACC and Ambuja Cements also traded higher.
The strong rally showed that investors welcomed SEBI’s final order, which ended two years of doubts since the Hindenburg report of 2023.
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SEBI Clears Adani of Wrongdoing
SEBI carried out a detailed investigation into claims of insider trading, market manipulation, and disclosure violations. However, it found no evidence to support the allegations.
The earlier Hindenburg report had claimed that firms like Adicorp Enterprises and Milestone Tradelinks were misused to channel funds to listed Adani companies. But SEBI clarified these firms did not qualify as “related parties,” so no rules were broken.
Because of this, SEBI decided there’s no reason to penalize or blame Adani executives. This comes as a huge relief after the 2023 crisis that wiped off more than $150 billion of market value from Adani Group stocks.
Business tycoon Gautam Adani welcomed the order and demanded an apology from those who spread false claims against his group.
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Global Investors Boost Sentiment
Foreign investment firms also backed Adani stocks soon after the SEBI verdict:
- Morgan Stanley said Adani Power is showing one of the biggest corporate turnarounds in India. It expects strong earnings growth from new power projects and contracts.
- Jefferies praised Adani Green Energy for its target to scale up capacity from 14 GW in FY25 to 50 GW by 2030. Analysts believe this could give big upside potential if achieved.
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Adani Plans Massive $60 Billion Energy Push
Looking ahead, the Adani Group is preparing major investments to expand its role in India’s power sector. The group aims to invest $60 billion by FY32 in renewable energy, generation, and transmission.
- Adani Power plans a $21 billion investment to boost renewable capacity to 50 GW.
- Adani Energy Solutions Ltd (AESL) will spend $17 billion to build 30,000 km of transmission lines by 2030.
- Adani Green Energy Ltd (AGEL) continues to focus on large solar and wind projects to meet India’s clean energy targets.
This clean chit, combined with global investor support, has sparked fresh confidence in the long-term growth of Adani companies.
Disclaimer: All the information provided in this article is for educational purposes only. DateUpdateGo always advises seeking guidance from a certified financial advisor before making any investment-related decisions.
