Adani Stocks Surge Following Hindenburg Research Disbandment: Market Cap Jumps ₹87,750 Crore

India: Adani Group stocks witnessed a remarkable rally today, with shares soaring up to 9%, following the announcement of the disbandment of Hindenburg Research. All 11 Adani stocks opened in green, marking a significant recovery from the aftermath of Hindenburg's controversial January 2023 report, which had wiped out $150 billion in Adani stock value.

Notably, Adani Power surged more than 9%, while Adani Green Energy saw an 8.89% jump in its share price. Adani Enterprises, the flagship company, also experienced a notable rise of 7.72%. This rally helped increase the market capitalization of Adani Group by over ₹87,750 crore.

The founder of Hindenburg Research, Nate Anderson, confirmed the winding up of his firm, citing the completion of their ongoing projects. Anderson's scathing reports had caused turmoil in the market, significantly reducing the value of several Adani companies, but today’s market response seems to show investor optimism following the closure of the research firm.

With these gains, some Adani stocks like Adani Ports, Adani Transmission, and Adani Wilmar saw substantial boosts as well, while others, including Ambuja Cements and ACC Ltd, also gained more than 4%. However, despite today's surge, Adani Group shares are yet to fully recover from the previous setbacks caused by Hindenburg’s allegations.

As investors keep a close eye on Adani stocks, the market response to this latest development is a hopeful signal for the conglomerate's comeback.