Adani Group companies extended their rally on Monday, adding ₹1.78 lakh crore in market value over two sessions, driven by strong buying interest in listed stocks after markets regulator SEBI cleared the group in the Hindenburg case.
The regulator’s order, which dismissed charges of stock manipulation and related-party transactions, boosted investor confidence and pushed Adani stocks higher for the second consecutive day.
Adani Group Firms MCAP Jumps Rs 1.78 Lakh Cr
Shares of Adani Power jumped 19.99 per cent to hit its upper circuit limit of Rs 170.15 apiece on the BSE.
The stock of Adani Total Gas skyrocketed 19.87 per cent, Adani Green Energy zoomed 11.75 per cent, Adani Energy Solutions surged 6.94 per cent, Adani Enterprises Ltd climbed 4.24 per cent, Ambuja Cements rallied 1.43 per cent, Adani Ports went up by 1.17 per cent, NDTV edged higher by 1.12 per cent and ACC (0.30 per cent).
Why Is There Rally In Adani Group Stocks?
The rally in the stocks came after Sebi on Thursday concluded its investigation, stating that it found no evidence to support the accusations raised by US-based short seller Hindenburg Research in early 2023.
On Friday also, Adani group firms ended higher, with Adani Power surging over 12 per cent.