Adani valuation boost: Group firms gain Rs 1.78 lakh crore in two days; Sebi clearance fuels investor confidence

Adani Group stocks extended their rally on Monday, collectively gaining Rs 1.78 lakh crore in market valuation over two days, buoyed by heavy buying after markets regulator Sebi dismissed allegations in the Hindenburg case.

The clean chit, which found no evidence of stock manipulation or related-party misuse, has lifted investor sentiment across the group’s listed firms.Shares of Adani Power soared 19.99 per cent to hit its upper circuit limit of Rs 170.15 on the BSE, according to PTI. Other gainers included Adani Total Gas (up 19.87 per cent), Adani Green Energy (11.75 per cent), Adani Energy Solutions (6.94 per cent), and Adani Enterprises (4.24 per cent). Ambuja Cements rose 1.43 per cent, Adani Ports 1.17 per cent, NDTV 1.12 per cent, and ACC 0.30 per cent.Together, the group added Rs 1,78,598.41 crore in market valuation in just two sessions. The surge follows Sebi’s Thursday order, which concluded its investigation into allegations raised by US-based short seller Hindenburg Research in early 2023. The rally began on Friday, when Adani Power jumped over 12 per cent, signalling renewed investor confidence in the group.