Adani Group Stocks
Today i.e. Friday has become very special for Adani Group and its investors, shares of companies of Adani Group in the stock market showed tremendous bounce. This boom was seen because the Securities and Exchange Board of India (SEBI) gave a clean chit to the Adani Group, terming the allegations made by Hindonburg Research as absolutely baseless.
Bumper boom in shares
After SEBI’s decision on Thursday, when the stock market opened on Friday, the shares of the companies of Adani Group caught up. Meanwhile, Adani Total Gas made the most jump, which saw a growth of 12.57% in the stock. Similarly, Adani Power shares rose around 9%, while Adani Enterprises jumped about 5.23%.
Other companies such as Adani Green Energy, Adani Ports, Adani Energy Solutions also rose by 2 to 3%. Cement stocks like ACC, Ambuja Cements, and Sanghi Industries also saw positive mood.
Adani Group benefits Rs 48,612 crore
Due to the rise in shares, the market cap of the companies of Adani Group also saw an increase. Due to the rise of this one day, the total market value of the Adani Group has increased by about ₹ 48,612 crore, showing the figure that investors have openly welcomed SEBI’s decision and their trust has been strengthened again.
The market cap of Adani Group companies gains
| Company name | Today’s market cap | Tomorrow’s market cap | Growth (₹ crore) |
|---|---|---|---|
| Adani Enterprises | ₹ 2,91,830.01 | ₹ 2,77,316.73 | ₹ 14,513.28 |
| Adani Port and SEZ | ₹ 3,13,641.37 | ₹ 3,05,087.22 | ₹ 8,554.15 |
| Adani power | ₹ 3,13,641.38 | ₹ 3,05,087.22 | ₹ 8,554.16 |
| Adani Energy Solutions | ₹ 1,06,235.43 | ₹ 1,00,661.48 | ₹ 5,573.95 |
| Adani Green Energy | ₹ 1,64,453.98 | ₹ 1,55,946.92 | ₹ 8,507.06 |
| Adani Total Gas | ₹ 75,595.45 | ₹ 66,736.48 | ₹ 8,858.97 |
| Sanghi industries | ₹ 1,726.91 | ₹ 1,682.74 | ₹ 44.17 |
| Ambuja Cements | ₹ 1,45,503.88 | ₹ 1,43,588.22 | ₹ 1,915.66 |
| ACC Limited | ₹ 35,458.92 | ₹ 34,883.35 | ₹ 575.57 |
| NDTV | ₹ 1,461.64 | ₹ 1,392.25 | ₹ 69.39 |
What was the matter?
In January 2023, the US research firm Hindenberg made serious allegations on the Adani Group such as rigging of shares, insider trading, and violation of the disclosure rules. After this report, the shares of Adani Group had declined drastically and the group’s market cap declined by about $ 150 billion.
No violation of rules – SEBI
Now, after about one and a half years of investigation, SEBI has made it clear that no concrete evidence was found against the Adani Group. The report said that the companies through which transactions were done were not ‘related partys’ associated with Adani Group, so no RPT (Related Party Transaction) rule was violated. SEBI also said that the Adani Group had paid all loans on time and no fraud behavior was found.