Brief by Shorts91 Newsdesk / 07:04am on 03 Jan 2024,Wednesday Business
Adani Group stocks, including Adani Enterprises and Adani Power, soared up to 16% as the Supreme Court supported SEBI's investigation into Hindenburg allegations. The court emphasized SEBI's jurisdiction in the matter and directed completion of the probe within three months. The verdict positively impacted Adani's market cap, crossing Rs 15 lakh crore. Since Hindenburg's report in January 2023, Adani stocks faced fluctuations, but recent developments, including investments by GQG Partners, contributed to the recovery. The court also dismissed calls to revoke SEBI's regulatory amendments, boosting confidence in Adani Group shares.
