Adani Group stocks rallied up to 6% on Tuesday after global index provider MSCI removed a freeze on the conglomerate's securities.
This came as a big relief a day after the latest report by Hindenburg Research soured investors' mood. The group had earlier rejected the charges made by the US-based short seller as "recycled claims" that were already discredited by the Supreme Court.
Read | Global Index Provider Removes Freeze On Adani Group Stocks
Nine out of the 10 Adani stocks bounced back this morning. Adani Energy Solutions saw the sharpest rise at 6.2% while Adani Total Gas rallied 4%. Both Adani Green and NDTV surged 2.5%.
Adani Wilmar and ACC shares also went up around 2%, and Adani Power and Adani Ports surged over 1%. Ambuja Cements was also in the green. Adani Enterprises, the flagship stock of the conglomerate, was the only scrip that was marginally down during the early trade.
MSCI announced earlier in the day it had removed its freeze on the Adani Group and its subsidiary stocks to allow fresh developments in their business operations.
Read | Index Provider's Relief Opens Potential For Foreign Inflows In Adani Group
The changes - including those in the number of shares and foreign and domestic inclusion factors of the stocks - will be implemented from August 2024 Index Review, the index provider clarified.
The MSCI, which had dropped Adani Energy and Adani Enterprises from the global standard index earlier this year, will consider the two companies' fundraises.
The index provider said in a statement it will also keep monitoring the Adani Group stocks, including those related to free-float.
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
Featured Video Of The Day
Index Provider's Relief Opens Potential For Foreign Inflows In Adani Group Global Index Provider Ignores Hindenburg, Gives Big Relief To Adani Stocks "Congress Involved In Creating Economic Anarchy": BJP On Hindenburg Report "No Further Loss Of Time": CBI To Probe Kolkata Doctor Rape-Murder Horror Video: Bengaluru Bus Driver Loses Control, Rams Bikes, Cars, 2 Injured Kolkata Doctor's Family First Told She Died By Suicide. Police Probe Why Weight Loss Tips: 10 Most-Effective Exercises To Help You Lose Weight Women Panchayat Leaders, 'Lakhpati Didis' To Be Special Guests At I-Day PerkinElmer India Launches Next Generation ICP-MS and Thermal Analysis Portfolio in Two Metros Track Latest News Live on NDTV.com and get news updates from India and around the world.