GG News Bureau
Mumbai, 19th Sept: Adani Group shares surged on Friday, climbing between 1% and 9.6% after the Securities and Exchange Board of India (SEBI) dismissed all allegations made by US short-seller Hindenburg Research against the conglomerate and its chairman, Gautam Adani.
Adani Total Gas led the rally with a 10% jump, followed by Adani Power, which gained 7.4%. Adani Enterprises advanced 4.3%, while Adani Green and Adani Energy Solutions rose nearly 4% each. Adani Ports added 2%.
In two detailed orders, SEBI stated that the transactions flagged by Hindenburg — involving Adicorp Enterprises, Milestone Tradelinks, and Rehvar Infrastructure — did not violate norms. The regulator noted that the dealings occurred before the definition of related-party transactions was revised, all loans were repaid, and no fraudulent practices were found.
Responding to the clean chit, Gautam Adani said the findings reaffirmed the group’s transparency. “SEBI has reaffirmed what we always maintained, that the Hindenburg claims were baseless. Transparency and integrity have always defined the Adani Group. We deeply feel the pain of the investors who lost money because of this fraudulent and motivated report. Those who spread false narratives owe the nation an apology,” he posted on X.
The SEBI verdict comes more than a year after the January 2023 report that had wiped billions off Adani Group’s market value and triggered a political storm.
