Adani Group Stocks Rally After SEBI Clears Hindenburg Allegations; Adani Power Leads Gains Nearly 20%

Adani Group shares continued their upward momentum on Monday, September 22, after receiving regulatory relief and positive brokerage recommendations. Adani Power stock price emerged as the top performer, rising 20% to ₹170.25 per share. The stock also went ex-split in a 1:5 ratio today, with the adjusted price at ₹141. It opened the day at ₹148 and steadily gained during the session.

Adani Power Leads Group Rally

Other group companies also saw significant gains. Adani Total Gas stock price climbed 17.5% to around ₹765, while Adani Green Energy scripts rose 8.91% to ₹1,122.50. Stocks such as Adani Energy Solutions, Adani Enterprises, Adani Ports & SEZ, ACC, Ambuja Cements, and Adani Wilmar (Agri Business) recorded increases ranging from 1% to 7%, showing broad investor interest.

Brokerages Boost Investor Confidence

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The rally received further support from global brokerages. Morgan Stanley started coverage on Adani Power with an ‘Overweight’ rating, signalling strong potential for growth. Jefferies is positive on Adani Enterprises stock price and raised the target price, representing upside. The brokerage also kept its positive view on Adani Green, with a target of upside than current market price. Analysts say the optimism reflects renewed confidence from both retail and institutional investors, many of whom had been cautious since the Hindenburg report in 2023.

SEBI Clears Hindenburg Allegations

The gains come after the Securities and Exchange Board of India (SEBI) cleared the Adani Group of allegations made by short-seller Hindenburg. In two detailed orders issued on Thursday, SEBI concluded that claims of insider trading, market manipulation, and violations of public shareholding norms were unsubstantiated. The regulator noted that all loans had been repaid before the investigation and that there was no diversion of funds. SEBI accepted the group’s explanation that the transactions were standard commercial dealings in the normal course of business.

Hindenburg had alleged in January 2023 that companies such as Adicorp Enterprises Pvt Ltd, Milestone Tradelinks Pvt Ltd, and Rehvar Infrastructure Pvt Ltd were used to channel funds into publicly listed Adani Power and Adani Enterprises. With SEBI’s clearance, the group has received significant regulatory reassurance, which has helped restore investor confidence.

Conclusion

Adani Group shares have bounced back strongly after regulatory relief and positive brokerage ratings. The renewed optimism highlights investor trust in the group’s long-term prospects.