The Adani Group delegation on Wednesday met with Telangana Chief Minister Revanth Reddy, expressing a strong interest in broadening its operations within the state. This development comes after the Supreme Court verdict on the Adani Hindenburg case.
Karan Adani, CEO of Adani Ports and SEZ Ltd. and the son of Adani Group's chairperson Gautam Adani, along with his team, held an investment meeting with Telangana Chief Minister A Revanth Reddy and Industries Minister D Sridhar Babu.
Adani-Hindenburg case
The apex court, on Wednesday morning, held that there was 'no ground to transfer the investigation from the Securities and Exchange Board of India to SIT (Special Investigation Team)'. It stated that OCCRP's report cannot be the basis for doubting the market regulator SEBI's investigation into the Hindenburg case.
Adani Group Stocks on Wednesday's close
The shares of the Adani Group companies closed higher on Wednesday at 3:30 PM IST following the Supreme Court verdict on the case.
The shares of Adani Enterprises surged 2.48 percent, reaching Rs 3,005. Similarly, Adani Ports and Special Economic Zone shares registered an uptick of 1.58 percent, closing at Rs 1,095.40 per share.
The shares of Adani Transmission jumped 11.44 percent, reaching Rs 1,184 and Adani Total Gas shares also climbed by 10 percent to Rs 1,100.95. Meanwhile, Adani Green Energy shares witnessed an 5.95 percent increase, closing at Rs 1,699. Adani Power shares recorded a 4.99 percent increase, reaching Rs 544.50 per share, while Adani Wilmar gained 4.05 percent, closing at Rs 381.45.
Other companies under the Adani conglomerate, including NDTV, ACC, and Ambuja Cement, experienced positive movements, with NDTV rising by 3.75 percent to Rs 282.40, ACC shares showing a 0.64 percent increase, at Rs 2,277.80, and Ambuja Cement gaining 0.83 percent at Rs 535.30
