The shares of Adani Group rallied over 18 percent on Wednesday despite both Sensex and Nifty falling flat during the market opening bell. The prime reason for this is the verdict of the Supreme Court regarding the Hindenburg report on the company.
After the Supreme Court disregarded the report submitted by Hindenburg on Adani Group, the share prices of multiple firms under the conglomerate spiked by a cumulative 18 percent during the early trade hours of Wednesday.
Adani group companies including Adani Enterprises Ltd, Adani Total Gas Ltd, Adani Green Energy Ltd, Adani Ports & Special Economic Zone Ltd, Adani Ports, Adani Wilmar Ltd and Adani Power Ltd rallied on the stock market even before the SC verdict was announced today.
Due to the rise in the share prices on January 2-3, Adani Group’s market capital once again breached the ₹15 lakh crore mark, after hitting an all-time low of ₹5.8 lakh crore in the early months of 2023.
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