Adani group stocks zoom up to 15% as SC refuses to transfer SEBI probe to SIT
Apex court says there’s no “ground” to transfer the case to SIT; Gautam Adani says “truth has prevailed”
Apex court says there’s no “ground” to transfer the case to SIT; Gautam Adani says “truth has prevailed”
Emerging businesses — airports, green hydrogen ecosystem, integrated manufacturing & roads — contribute half to Adani Enterprises profits.
Adani group stocks, which have maintained an uptrend since last week following the Supreme Court's concluded hearings of the Adani-Hindenburg case, surged between 6-14% intraday.
Gautam Adani's comeback strategy has led to an 85% rise in group revenues in FY23, post the Hindenburg rout.
This is the second major allegation against billionaire Gautam Adani-led Adani Group after an adverse report by Hindenburg released in January this year.
Adani Power gained up to 3.9%, followed by Adani Enterprises and Adani Ports & SEZ, which climbed 2.5% each during the trade so far.
SEBI submitted its 15-page “status report” before the Supreme Court on August 25, while the apex court is scheduled to hear the matter on August 29.
Hindenburg Research published its report ahead of Adani Group's plan to launch the largest follow-on public offering (FPO) in India's history.
Of this, the insurance giant's exposure is highest at ₹5,389 crore to Adani Ports & Special Economic Zone, says Sitharaman
MoS finance Pankaj Chaudhary says listed companies of the Adani group saw a 60% decline in m-cap after the Hindenburg report