Adani Group posts ₹1.16 trillion market cap jump, biggest in 10 months

Adani Group stocks added Rs 1.16 trillion in market value, the sharpest rise since November 2024, after Sebi dismissed key Hindenburg allegations against the conglomerate

Adani Group stocks surged on Monday, adding Rs 1.16 trillion in market capitalisation — the steepest single-day gain since November 27, 2024. Over the past two trading sessions, the group’s market value has risen by Rs 1.8 trillion to Rs 15.44 trillion, the highest level since November 7, 2024.

 

The rally followed the Securities and Exchange Board of India’s (Sebi) dismissal of key allegations made by US-based short-seller Hindenburg Research. Market experts said the move removes a significant overhang for the Gautam Adani-led conglomerate and paves the way for fresh institutional investments.

 

Adani Power and Adani Total Gas were the top gainers on Monday, each rallying nearly 20 per cent. Adani Green Energy rose 12 per cent, while Adani Energy Solutions advanced 7 per cent.

 

The gains also came amid reports that SBI Funds Management and Citadel Securities were among the buyers of Adani Power shares recently sold by long-time backer GQG Partners.

 

In two separate orders issued on Thursday, Sebi cleared the group of charges related to alleged fund diversion and violations of related-party transaction (RPT) norms. The regulator said the transactions flagged in Hindenburg’s 2023 report could not be classified as RPTs. Consequently, Adani firms could not be held guilty of breaching disclosure rules or engaging in market manipulation.