Adani Group shares staged a sharp rally on Friday after the Securities and Exchange Board of India (SEBI) gave the conglomerate a clean chit in the Hindenburg case.
The surge added over ₹46,000 crore to investors’ wealth in a single day, lifting the group’s combined market capitalisation to ₹13.8 lakh crore.
Adani Power Leads the Gains
Adani Power led the rally with a 13.42% jump, closing at ₹716.10. Meanwhile, Adani Total Gas followed with a 7.55% rise to ₹652.80. Adani Enterprises advanced 5.25% to ₹2,528, while Adani Green Energy climbed 5.48% to ₹1,032.50. Adani Ports and Special Economic Zone also ended higher by 1.15% at ₹1,429.
The market regulator dismissed Hindenburg Research’s allegations, ruling that the transactions involving Milestone Tradelinks, Rehvar Infrastructure, and Adicorp Enterprises did not violate market regulations.
SEBI clarified that the deals were not related-party transactions and complied with listing and disclosure norms.
Gautam Adani Welcomes SEBI’s Probe
Reacting to the verdict, Adani Group Chairman Gautam Adani said on X that SEBI’s detailed investigation reaffirmed what the company had always maintained, that Hindenburg’s claims were baseless.
“After an exhaustive investigation, SEBI has reaffirmed what we have always maintained, that the Hindenburg claims were baseless,” Gautam Adani wrote. He expressed solidarity with investors who lost money due to the report and demanded accountability from those who spread misinformation.
After an exhaustive investigation, SEBI has reaffirmed what we have always maintained, that the Hindenburg claims were baseless. Transparency and integrity have always defined the Adani Group.
We deeply feel the pain of the investors who lost money because of this fraudulent… pic.twitter.com/8YKeEYmmp5
— Gautam Adani (@gautam_adani) September 18, 2025
Adani reiterated that transparency and integrity have always defined the Group’s operations. He emphasised the company’s unwavering commitment to India’s institutions, its people, and nation-building.
Earlier this year, a Supreme Court-appointed expert panel also found no prima facie evidence of wrongdoing by the Adani Group, lending further support to SEBI’s findings.
Also Read: Markets End Lower After Three-Day Rally; Adani Stocks Cushion Fall
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