All the 11 Adani Group stocks opened in green on Thursday, rising as much as 9 per cent during the trading session amid the, following the disbandment of Hindenburg Research. The US-based short-seller's damning research report on the Gautam Adani led conglomerate in January 2023 had triggered a $150 billion rout in Adani Stocks. The total market capitalization of Adani Group stock increased by more than Rs 87,750 crore.
Nate Anderson, the founder of Hindenburg Research, a US-based short seller, announced to disband his research team. In a letter, he said the plan has been to wind up after his team finishes the pipeline of ideas that they were working on. Anderson's report wrecked the havoc on Ahmedabad-based Adani Group, with a number of Adani stock wiping out up to two-third of their value back then. Interestingly, Adani Group stocks still have not made a full recovery.
Among the gainers, Adani Power Ltd rallied more than 9.2 per cent to Rs 599.90 over its previous close at Rs 549.30 in the early trade. The company's total valuations rose to Rs 2.31 lakh crore. Adani Green Energy Ltd, surged about 8.89 per cent to Rs 1,126.80 on Thursday, compared to previous close at Rs 1035 on Wednesday. The total market capitalization of the company increased to Rs 1.78 lakh crore.
Adani Enterprises Ltd, the flagship company of the Adani Group, soared about 7.72 per cent during the session to Rs 2,569.85, against its previous close at Rs 2,385.55 on Wednesday. Adani Ports & Special Economic Zone Ltd, another Nifty50 constituent from the Adani Group, rose 5.5 per cent to Rs 1,190 for the day. Both companies commanded a total market capitalization of Rs 2.97 lakh crore and Rs 2.57 lakh crore, respectively.
Adani Energy Solutions, formerly known as Adani Transmission Ltd, surged 6.6 per cent to Rs 832 apeice as its total marketcap stood merely shy of Rs 1 lakh crore mark. while Adani Total Gas Ltd was up 7.1 per cent to Rs 708.45 for the day, valued at Rs 77,916.0 5 crore. Adani Wilmar Ltd, did not move much as the stock was seen at Rs 275, up merely a per cent.
Ambuja Cements Ltd gained more than 4.5 per cent to Rs 542.90, while ACC Ltd advanced 4.14 per cent to Rs 2,054 for the day. Sanghi Industries Ltd and New Delhi Television Ltd rose over 4 per cent and 7 per cent to Rs 61.49 and Rs 157.90, respectively.
Hindenburg Research allegations jolted group shares, eroding Adani's personal wealth by over $100 billion. Hindenburg's supremo Anderson said, "And as of the last Ponzi cases we just completed and are sharing with regulators, that day is today."
He said there is not one specific reason behind his decision to wind up the research firm -- no particular threat, no health issue, and no big personal issue.