Adani shares surge after Supreme Court’s decision in Hindenburg case, up by 10%
New Delhi: All Adani Group After the decision of the Supreme Court, there was a strong rise in the shares on Wednesday. Gautam Adani-Hindenburg A case of short selling. Adani Group shares rejected a weak trend in the broader equity market.
Adani Energy Solutions rose 17.83%, NDTV 11.39%, Adani Total Gas 9.99%, Adani Green Energy 9.13% and Adani Enterprises 9.11% on BSE.
Meanwhile, Adani Wilmar saw a rise of 8.52%, Adani Ports saw a rise of 6%, Adani Power saw a rise of 4.99%, Ambuja Cements saw a rise of 3.46% and ACC saw a rise of 2.96% Went.
The Supreme Court on Wednesday gave relief to the Adani Group by choosing not to transfer the investigation in the Adani-Hindenburg case to the Special Investigation Team (SIT) or the Central Bureau of Investigation (CBI). The decision pertains to allegations of stock price manipulation faced by the Indian group, which were initially investigated by the Securities and Exchange Board of India (SEBI).
Presided over by Chief Justice DY ChandrachurThe bench comprising Justices PS Pardiwala and Manoj Mishra highlighted the limited jurisdiction of the Supreme Court in interfering in the regulatory functions of SEBI. The Court emphasized that its role in judicial review is primarily to detect any violation of fundamental rights. In this context, the Supreme Court did not find any compelling reason to transfer the investigation to the SIT or any other agency, reaffirming its confidence in the investigation conducted by SEBI.
So far, the group’s shares have added more than Rs 1 lakh crore to investors’ wealth. This surge has taken the market capitalization of Adani Group to more than Rs 15 lakh crore. Financial markets reacted positively to the outcome of the case, reflecting investor confidence in the future prospects of the Adani Group.
Adani Energy Solutions rose 17.83%, NDTV 11.39%, Adani Total Gas 9.99%, Adani Green Energy 9.13% and Adani Enterprises 9.11% on BSE.
Meanwhile, Adani Wilmar saw a rise of 8.52%, Adani Ports saw a rise of 6%, Adani Power saw a rise of 4.99%, Ambuja Cements saw a rise of 3.46% and ACC saw a rise of 2.96% Went.
The Supreme Court on Wednesday gave relief to the Adani Group by choosing not to transfer the investigation in the Adani-Hindenburg case to the Special Investigation Team (SIT) or the Central Bureau of Investigation (CBI). The decision pertains to allegations of stock price manipulation faced by the Indian group, which were initially investigated by the Securities and Exchange Board of India (SEBI).
Presided over by Chief Justice DY ChandrachurThe bench comprising Justices PS Pardiwala and Manoj Mishra highlighted the limited jurisdiction of the Supreme Court in interfering in the regulatory functions of SEBI. The Court emphasized that its role in judicial review is primarily to detect any violation of fundamental rights. In this context, the Supreme Court did not find any compelling reason to transfer the investigation to the SIT or any other agency, reaffirming its confidence in the investigation conducted by SEBI.
So far, the group’s shares have added more than Rs 1 lakh crore to investors’ wealth. This surge has taken the market capitalization of Adani Group to more than Rs 15 lakh crore. Financial markets reacted positively to the outcome of the case, reflecting investor confidence in the future prospects of the Adani Group.
