Adani Group Surges $15 Billion as Supreme Court Reserves Verdict on US Short-Seller's Allegations

28 Nov 2023 , 02:59 PM

Adani Group’s market value increases by over $15 billion; stocks rally up to 20% on November 28 after Supreme Court reserves order on probe. Adani Total Gas leads with a 19.62% rally, reaching Rs 642 on NSE; trades way above average volume.

Adani Energy Solutions surges 13% to Rs 824.50 on NSE; Adani Green Energy and Adani Power see 8% and 7% rallies, respectively.

Adani Wilmar zooms 6% to Rs 338.50; Adani Enterprises climbs 6% to Rs 2,370; Adani Ports gains around 3% to Rs 826.00 on NSE.

Other Adani Group firms also show positive momentum: NDTV shares up over 5%, Ambuja Cements over 3%, and ACC over 2%.

Supreme Court reserves order, emphasizing the need to hear impacted entities and test the veracity of the Hindenburg report.

Hindenburg, a US short-seller, made allegations against the Adani Group in January. SC finds it improper to appoint an SIT without evidence of SEBI lapses; SEBI directed to probe the allegations made by Hindenburg.

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