Adani stocks jump by up to 19% after ₹15,000 crore stake sale to GQG
Despite rising above Rs 8 lakh crore, Adani's market cap is still far from Rs 19.19 lakh crore in January 2023.

The Adani Group has been struggling to navigate troubled waters after the Hindenburg Research report sent its stocks crashing down. Allegations of fraud and inflating stocks outweighed all efforts by the conglomerate to win back investor confidence as stocks fell by as much as 84 per cent. But after selling stakes worth Rs 15,000 crore in four group firms to US-based fund GQG, Adani Group's stocks jumped by up to 19 per cent to end the week.
Rajiv Jain to the rescue
GQG Partners founder Rajiv Jain emerged as a saviour for Adani, as his firm invested in Adani Green, Adani Ports, Adani Transmission and Adani Enterprises. Adani Green Energy and Adani Transmission gained close to 5 per cent each, while Adani Ports was up almost 10 per cent and the flagship Adani Enterprises surged more than 16 per cent. This good news came after Adani had to call off an FPO, while a sell off of its stocks refused to slow down.
Still a lot of damage to be repaired
After this boost, the Adani stock has gone up from below Rs 7 lakh crore to more than Rs 8 lakh crore, but it has a long way to for full recovery. Before the Hindenburg fiasco reversed Adani's fortune's for the worse, the 10 listed stocks of the conglomerate stood at Rs 19.19 lakh crore on January 24.
Other than the infusion by Jain's GQG Partners, probably based on Adani's regulated assets including airports and ports, the investigation panel constituted by SC for the Hindenburg report, may also have triggered positive market sentiment.
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