Shares of the industry leader Adani Enterprises Ltd were up 1.53 percent, trading at Rs 2,509.70 on the BSE. The stock increased 2.55 percent, reaching a day’s high of Rs 2,535 early on.
- SUMMARY
- A 1.14 percent decline brought Adani Green Energy Ltd’s price to Rs. 968.90, off its day’s high of Rs. 985.
- At Rs 657.95, Adani Total Gas was up 0.34 percent. Shares of Adani Wilmar Ltd were unchanged at Rs 371.60.
- According to rumors, the next court date for the Adani-Hindenburg dispute will be made clear by tonight.
Shares of the Adani group’s firms, including Adani Enterprises Ltd, Adani Power Ltd, Adani Green Energy Ltd, and Adani Energy Solutions, responded on Tuesday to rumors that the Supreme Court was unlikely to consider the case involving the claims surrounding the Hindenburg while the hearing on Article 370 was still going on. According to rumors, the next court date for the Adani-Hindenburg dispute will be made clear by tonight. Following the news, the majority of Adani Group equities held their ground while a few stocks reduced gains.
Shares of the industry leader Adani Enterprises Ltd were up 1.53 percent, trading at Rs 2,509.70 on the BSE. The stock increased 2.55 percent, reaching a day’s high of Rs 2,535 early on. Adani Ports & SEZ was up 1.42 percent, trading at Rs 818.70. A 1.14 percent decline brought Adani Green Energy Ltd’s price to Rs. 968.90, off its day’s high of Rs. 985. At Rs 657.95, Adani Total Gas was up 0.34 percent. Shares of Adani Wilmar Ltd were unchanged at Rs 371.60. Earlier today, the stock reached a high of Rs 374.35.
Sebi, the market watchdog, has concluded its investigations into all but two of the accusations made against the Adani group. Sebi alerted the central bank that it had not yet received information from five tax havens on the real owners of the conglomerate behind foreign investors. Sebi said that 22 of the 24 cases it was looking into had conclusive results.
The Adani Group was charged by Hindenburg Research of stock manipulation, fraudulent transactions, and other financial wrongdoings. Sebi was looking into these claims when they were made in January of this year. It claimed that the gang had manipulated share prices and financial outcomes via offshore corporations located in tax havens. Additionally, the Hindenburg investigation claimed that shareholding and disclosure regulations had not been followed. The organization has denied wrongdoing.
The SC had instructed Sebi to investigate the charges made against Hindenburg Research and report its findings to a six-member panel that also comprised a retired judge and experienced bankers.
