Adani Enterprises' stock skyrockets ~19%

22 May 2023 , 03:11 AM

On Monday, Adani Group stocks experienced significant investor interest, driven by a strong 18% surge in Adani Enterprises . The optimism stemmed from a report by an expert committee appointed by the Supreme Court, which stated that it found no evidence of regulatory failure in the Adani Group-Hindenburg case.

Additionally, the Securities and Exchange Board of India (SEBI) investigation into alleged violations related to money transfers from offshore entities into the conglomerate resulted in no conclusive findings.

Adani Enterprises gained as much as 18% in today’s trade at Rs 2,325 apiece, while Adani Wilmar rallied about 19% to Rs 444 per piece. The remaining 8 stocks of Adani Group Adani Ports, Ambuja Cements, Adani Green, Adani Power, ACC, Adani Transmission, Adani Total Gas, and NDTV, each surged a minimum of 5%.

Ahmedabad-headquartered conglomerate, which has been grappling with negative publicity after the publication of a detrimental report by US-based short-seller Hindenburg, achieved a market capitalization exceeding Rs 10 lakh crore.

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