Adani Group stocks market cap crosses Rs 11 lakh crore
Adani Enterprises shares jumped 0.38%, while that of Adani Ports and Adani Power rose 1.92% and 2.84%, respectively. Adani Wilmar and Adani Green also ended the day in green, and on the other hand, Adani Total Gas and Adani Energy closed with cuts.
Adani stocks held steady for the past few days despite a Hindenburg-like ambush from George Soros-backed Organised Crime and Corruption Reporting Project (OCCRP).
The report claimed that two men who secretly invested in the conglomerate have close ties with the Adani family, adding that the two men have also served as directors and shareholders in Adani Group companies and companies associated with Gautam Adani's brother Vinod Adani.
Meanwhile, Adani Group has dismissed the allegations made by OCCRP.
The conglomerate said reports appear to be yet another concerted bid by Soros-funded interests supported by a section of the foreign media to revive the meritless Hindenburg report.
Adani stocks had seen a severe rout in the market cap following corporate governance allegations by Hindenburg Research early this year.
The damage led to erosion of about $150 billion in the group stocks' market value at the lowest point.
Following the Hindenburg report, the Supreme Court had formed an expert committee to investigate the matter and had also asked Sebi to conduct a separate investigation.
Late August, the market regulator had said it had completed the investigation into whether Adani Group companies violated securities laws, but it's yet to reveal specific findings.
The regulator said it would take «appropriate action based on the outcome of the investigations in accordance with law».
Sebi carried out 13 investigations into related-party transactions. The regulator also inquired into
