
The rally seen on Adani group shares such as Adani Enterprises Ltd, Adani Total Gas Ltd, Adani Power Ltd, Adani Green Energy Ltd and Adani Energy Solutions Ltd, among others, in Tuesday's trade pushed the market capitalisation of the Gautam Adani-led Adani group near Rs 11 lakh crore mark. The group saw an Rs 66,945.94 crore addition to its m-cap, as the Supreme Court reserved order in the Adani-Hindenburg case after hearing multiple pleas in the matter.
The group stocks gained up to 15 per cent, as the apex court said the Hindenburg Research report should not be treated as a statement of truth. A bench led by DY Chandrachud, the Chief Justice of India, suggested that court cannot doubt market watchdog Sebi's probe into the case by just relying on media reports but said the market regulator Sebi must complete the probe in all 24 cases. Earlier in its status report on August 25, Sebi had said it has completed its investigation in 22 out of the 24 cases.
Sebi told SC that it won't be asking for any more extension to complete its probe in the Adani-Hindenburg matter.
At 10.10 am, shares of Adani Enterprises were up 6.42 per cent at Rs 2,373.65. Adani Ports & SEZ advanced 3.57 per cent to Rs 824.80. Adani Power jumped 7.84 per cent to Rs 428 while Adani Energy Solutions soared 11.83 per cent to Rs 815.50.
Adani Green Energy gained 7.36 per cent to Rs 1,006.40. Adani Wilmar surged 5.4 per cent while cement stocks ACC and Ambuja Cements added up to 3.5 per cent. NDTV rose 5.35 per cent to Rs 216.50.
The Adani group m-cap stood at Rs 10,94,060.61 crore in Tuesday's trade against Rs 10,27,114.67 crore on Friday. The m-cap is down 43 per cent over January 24's m-cap of Rs 19,19,888.44 crore. This was the day when the US-based short seller Hindenburg Research alleged the group was engaged into stock manipulation and accounting frauds.
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