SEBI dismissed two allegations by Hindenburg Research against Gautam Adani and his group, boosting investor sentiment.
Adani Total Gas led gains, rising ~8.4%, while Adani Power was up ~7.4% and Adani Enterprises ~4.2%.
Morgan Stanley initiated coverage on Adani Power with an “overweight” rating on the back of this regu
latory relief.
The ruling removes one major overhang from Adani’s valuation; however, several other investigations still continue.
Investor confidence was visibly restored; many Adani group stocks broadly trading in green.
Gains in Adani helped offset weakness in broader market indices to some extent.
Sectors like IT and financials underperformed today, partly due to profit-taking
.
Adani’s regulatory relief is seen as potentially drawing fresh institutional flows
.
While Adani’s stocks surged, market participants remain cautious about the unresolve
d Hindenburg charges.
Overall, this development is among the top market-movers of the day.