Adani group market cap sees highest weekly rise at ₹3 15 lakh crore thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Adani Group stocks surged on Tuesday, adding ₹1.93 lakh crore to market capitalization and marking their best single-day market performance, following a report by Bloomberg that quoted an unnamed official of the US International Development Finance Corp (DFC) as saying that the allegations by Hindenburg Research were not relevant.
The rally propelled Adani group s market capitalisation to an 11-month high of ₹13.88 lakh crore, a gain of ₹3.61 lakh crore since November 28 after the Supreme Court had reserved its judgment on pleas seeking an investigation into the allegations made by Hindenburg against the Adani Group. Oral observations by the court that the Hindenburg report need not be taken as "gospel truth" had been seen by the market as positive.
The Nifty gained 168.30 points or 0.81% to close at 20,855.10. The Sensex rose 431 points or 0.63% to end at 69,296.14. Both indices had surged over 2% on Monday in response to BJP s victory in three out of the four key state elections, which is seen as a harbinger of the party s performance in the crucial general elections in 2024.
Adani Group stocks continue a robust rally, jumping 15% as a US agency dismisses fraud accusations. Investor confidence strengthens amid positive developments for the conglomerate.