Shares of Adani Group companies rallied in Friday’s trading session after the Securities and Exchange Board of India gave a clean chit to the conglomerate in connection with allegations raised by US-based short-seller Hindenburg Research.

 

Adani Power surged 12.4 percent, closing at its strongest level since August 2024, ahead of a scheduled stock split next week. Adani Total Gas gained 7.3 percent, while Adani Enterprises advanced 5.1 percent and Adani Green Energy rose 5.3 percent. Other group entities such as Adani Energy Solutions, Adani Ports, ACC and Ambuja Cements also finished higher. In total, the combined market capitalization of Adani firms grew by about ₹69,000 crore, pushing the group’s valuation to nearly ₹13.96 lakh crore.

 

Group chairman Gautam Adani welcomed SEBI’s findings, stating that the conclusions reinforced the company’s long-held position. He accused critics of spreading misleading narratives through Hindenburg’s report, which he described as fraudulent and motivated. “SEBI’s extensive probe has confirmed what we consistently maintained. We stand for transparency and integrity. Investors who suffered losses because of this baseless report deserve justice, and those who spread such misinformation owe the country an apology,” he wrote on X.