On Thursday, January 16, Adani Group stocks jumped as much as 9% when Hindenburg Research, a US research firm notorious for its short-selling practices, was shut down.
Adani Green Energy’s shares surged 8.8% to Rs 1,126.80, while Adani Power’s shares surged 9% to the day’s high of Rs 599.90 on the BSE. Adani Total Gas experienced significant gains, rising 7% to Rs 708.45, while Adani Enterprises saw a 7.7% increase to Rs 2,569.85.
Adani Ports gained 2%, trading at Rs 1,151, while Adani Energy Solutions increased 6.6%, reaching a day’s high of Rs 833.00.
Hindenburg had recently been well-known in India for its publications that had a major negative influence on billionaire Gautam Adani’s business ventures and resulted in losses of billions of dollars.
Adani Wilmar saw a slight increase of 0.5%, while Ambuja Cement’s shares saw a moderate gain of 4.5%, reaching a peak of Rs 542.80.
In a statement, Anderson stated, “As I’ve shared with family, friends, and our team since late last year, I have made the decision to disband Hindenburg Research.” He clarified that the strategy was to conclude operations once their pipeline of investigation concepts was finished. Notably, the company’s research operations have come to a stop with the completion of its last Ponzi scheme-related initiatives.
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