📷 Image Credits: The Economic Times
The Adani Group stocks have finally shed the Hindenburg stain, with the market cap nearing Rs 2 trillion. After enduring a tumultuous 16 months, the stock of Adani Power has surged nearly 220%, while Adani Ports has more than doubled in value. ACC, Adani Enterprises, Adani Green Energy, and Ambuja Cements are also trading above their pre-Hindenburg levels. It has been a journey of resurgence for the Adani Group, bouncing back from the allegations leveled by US-based short-seller Hindenburg Research. Following the Hindenburg report in January 2023, the Adani Enterprises stock saw a steep decline, plummeting almost 70% within a week and wiping out billions in market value across the conglomerate’s companies. However, strategic investments from Abu Dhabi-based International Holding Company and U.S. investment firm GQG Partners, along with favorable regulatory outcomes, played a crucial role in restoring investor confidence and helping the stocks recover. The recent surge in Adani Enterprises’ stock price is a testament to this recovery and resilience, with the company now on the verge of reclaiming its pre-Hindenburg levels. With Adani Ports, Adani Total Gas, and Adani Power already back at their pre-Hindenburg levels, the Adani Group’s revival seems well underway, reflecting a significant restoration of market confidence.
