Shares of the Adani Group's listed companies rose between 2.2% and 10% on Wednesday, ahead of a ruling by India's Supreme court on the country's market regulator's probe into the billionaire Gautam Adani-led conglomerate.
The Adani Group received a shot in the arm following a Bloomberg report that quoted an unnamed of the US International Development Finance Corporation (DFC) as saying that the allegations by Hindenburg Research were not relevant. The US agency had recently announced funding of $553 for the Group s port business in Sri Lanka.
For the quarter that ended June 30, the consolidated profit of all listed Adani group firms jumped 155 per cent year-on-year (YoY) to Rs 6,897.85 crore.