This Article is From Jan 03, 2024

Adani Group Stocks Rise Ahead Of Supreme Court Ruling on Hindenburg Probe

The Adani Group has denied any wrongdoing. A Supreme Court-appointed panel had, in May, found no lapses at the Adani Group.

Adani Group Stocks Rise Ahead Of Supreme Court Ruling on Hindenburg Probe

Shares of the group's flagship firm Adani Enterprises were up 6.4% in early trade today

New Delhi:

Shares of the Adani Group's listed companies rose between 2.2% and 10% on Wednesday, ahead of a ruling by India's Supreme court on the country's market regulator's probe into the billionaire Gautam Adani-led conglomerate.

India's market regulator, the Securities and Exchange Board of India (SEBI), is probing the group after US short-seller Hindenburg, in January 2023, alleged improper use of tax havens, stock manipulation by the group.

The Adani Group has denied any wrongdoing. A Supreme Court-appointed panel had, in May, found no lapses at the Adani Group.

While the group's stocks have recovered some losses, they are still down $47 billion in market value since the report.

Shares of the group's flagship firm Adani Enterprises were up 6.4% in early trade on Wednesday.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

.