A year after the explosive Hindenburg report on Adani stocks, the controversy continues as Sebi is investigating violations of minimum public shareholding norms. The Supreme Court has directed Sebi to complete the investigation within 3 months. Adani stocks have partially recovered, but there is still a Rs 4.67 lakh crore loss in market capitalization. Adani Ports and Adani Power have performed well, while Adani Total Gas, Adani Energy Solutions, and Adani Wilmar have suffered losses.
Gautam Adani, billionaire and chairman of the Adani Group, stated that the trials and tribulations of the past year have strengthened the conglomerate. Adani highlighted the group s accomplishments, which include raising Rs 40,000 crore of equity, repaying Rs 17,500 crore of margin-linked financing, and reducing debt. The Adani group achieved its highest-ever quarterly profit and launched key projects like the Dharavi redevelopment and the world s largest renewable energy generation site in Gujarat. Adani dismissed the Hindenburg Research report as a compilation of old and dead allegations, stating that it eroded market value and caused small investors to lose their savings.
BSE's Sensex surged 689.76 points, or 0.98 per cent, to settle at 71,060.31. NSE's Nifty50 jumped 215.15 points, or 1.01 per cent, to end the day at 21,453.95 for the day.
BSE's Sensex tanked 1,053.10 points, or 1.47 per cent, to settle at 70,370.55, while NSE's Nifty50 nosedived 333 points, or 1.54 per cent, to end the day at 21,238.80 for the day.