On January 16, 2025, Adani Group’s stocks went up by as much as 9% during trading. This happened after Hindenburg Research, a US firm known for short selling, announced it was shutting down. Nathan Anderson, the founder, said he wanted to focus more on his personal life and saw Hindenburg as just a part of his past.
Anderson mentioned that their work led to about 100 people, including rich billionaires, being charged by regulators. He felt they made some important changes in the business world.
Adani Power saw the biggest increase, rising 9.2% to nearly ₹600 per share. Other companies in the Adani Group also had strong gains: Adani Enterprises was up 7.7%, Adani Green Energy jumped 8.8%, and Adani Total Gas increased by 7.1%. Adani Energy Solutions rose 6.6% while Adani Ports went up 5.4%. Other boosts included Ambuja Cements, which gained 4.5%, ACC at 4.1%, and NDTV increased by 7%.
Earlier, Hindenburg had accused the Adani Group of serious issues like accounting fraud and stock manipulation, claiming losses totaling around ₹18 trillion (about $218 billion). They also said the head of India’s Securities and Exchange Board, Madhabi Puri Buch, had conflicts due to her past investments in Adani. Both the Adani Group and Buch denied these accusations.
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