Adani Group companies on Monday have recovered close to 50 per cent of the market capitalisation that was lost post the release of the Hindenburg Report. The market capitalisation has crossed the Rs 10 lakh crore mark and recovered from the low of Rs 6.8 lakh crore in February.
The company's combined market capitalisation moved from Rs 19.2 lakh crore in February to Rs 10.1 lakh crore. This surge in the share price can be attributed to the report that was released on Friday by the panel appointed by the Supreme Court. According to the report the allegations of stock price manipulations at this stage could not be substantiated.
The report also states the SEBI has been investigating the companies since October 2020 but there is not conclusive evidence in favour of the Adani group or against it.
Adani Group shares trade higher
The group's flagship company Adani Enterprises saw a gain of 18 per cent on Monday and was trading at a three-month high of Rs 2,287.30. Even the other companies like Adani Ports, ACC and Ambuja Cements were trading with a jump of 5-9 per cent. While the Adani Total Gas, Adani Green and Adani Transmission were trading in an upper circuit of 5 per cent.
Adani Wilmar saw a surge of 19 per cent and was trading at Rs 444.
