{"id":1245843,"date":"2023-05-25T11:39:40","date_gmt":"2023-05-25T06:09:40","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1245843"},"modified":"2023-05-25T11:40:15","modified_gmt":"2023-05-25T06:10:15","slug":"share-prices-of-adani-stocks-zoom-ahead-after-supreme-court-found-no-evidence-of-price-manipulation","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/share-prices-of-adani-stocks-zoom-ahead-after-supreme-court-found-no-evidence-of-price-manipulation\/","title":{"rendered":"Share Prices Of Adani Stocks Zoom Ahead After Supreme Court Found No Evidence Of Price Manipulation"},"content":{"rendered":"\n<p>The 22 May\u2019s trading session witnessed <a href=\"https:\/\/www.hindustantimes.com\/business\/adani-stocks-surge-head-for-best-day-since-hindenburg-s-report-101684744864223-amp.html?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts\">Adani stocks<\/a> adding about $10 billion to their market value, poised to be the biggest increase since Hindenburg\u2019s report in Jan.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/05\/Adani-1280x720-2-1024x576.jpeg\" alt=\"Share Prices Of Adani Stocks Zoom Ahead After Supreme Court Found No Evidence Of Price Manipulation\" class=\"wp-image-1245853\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/05\/Adani-1280x720-2-1024x576.jpeg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/05\/Adani-1280x720-2-300x169.jpeg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/05\/Adani-1280x720-2-768x432.jpeg 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/05\/Adani-1280x720-2.jpeg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Huge Jump In Adani Stocks<\/strong><\/p>\n\n\n\n<p>In the Monday session, Adani Group shares surged, extending gains spurred by an Indian court panel\u2019s report that found no conclusive evidence of stock-price manipulation as alleged by US short seller Hindenburg Research.<\/p>\n\n\n\n<p>As a result, Adani Green Energy Ltd., Adani Transmission Ltd., Adani Total Gas Ltd., and Adani Power Ltd. rose by their 5% daily limit at the same time Adani Wilmar Ltd. surged by its 10% daily limit.<\/p>\n\n\n\n<p>When it comes to the Flagship Adani Enterprises Ltd. ,&nbsp; it had surged by more than 17%, adding to its 3.5% gain on Friday.<\/p>\n\n\n\n<p>In the meantime, Adani Ports and Special Economic Zone Ltd. jumped as much as 8%.<\/p>\n\n\n\n<p><strong>How Did This Happen?<\/strong><\/p>\n\n\n\n<p>Witnessing this surge, traders said that trapped short positions were unwound aggressively, and investors were inclined to take new long bets on the group.<\/p>\n\n\n\n<p>According to the head of retail research at HDFC Securities Ltd, Deepak Jasani, &#8220;The interim report is helping because the fear of further inquiries against the group will reduce,\u201d.&nbsp;<\/p>\n\n\n\n<p>Further adding, \u201cIt\u2019s given the group a clean chit of sorts. While the change in perception from foreign investors will be gradual, this is a pretty significant step.\u201d<\/p>\n\n\n\n<p>On Friday, the Securities and Exchange Board of India told a Supreme Court-appointed panel that it found no evidence of stock price manipulation or abusive trading patterns.<\/p>\n\n\n\n<p>This way it has provided the group relief against one of the central allegations made by Hindenburg.<\/p>\n\n\n\n<p>So far the Investigations are still going on.<\/p>\n\n\n\n<p>Please note here that SEBI has an Aug. 14 deadline from the Supreme Court to close its probe on any securities law violation by the Adani Group, as well as any unusual market activity in its stocks.<\/p>\n\n\n\n<p>\u201cWe are going to see a huge number of institutional investors coming in buying these stocks because the clouds of uncertainty around stocks have been cleared. At the same time, valuations are also good. They have access to growth capital. The group has emerged stronger. Adani Total Gas and Adani Ports are abysmally valued with strong businesses and cash flow businesses. Adani Enterprises has prioritized asset allocation. With their impending IPO, the green energy business will get wings. That is not discounted in valuations. I will not be surprised if analysts give a target of Rs 4,000 to Adani Enterprises,\u201d said Vinit Bolinjkar, the Head of Research at Ventura Securities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 22 May\u2019s trading session witnessed Adani stocks adding about $10 billion to their market value, poised to be the biggest increase since Hindenburg\u2019s report in Jan. Huge Jump In Adani Stocks In the Monday session, Adani Group shares surged, extending gains spurred by an Indian court panel\u2019s report that found no conclusive evidence of [&hellip;]<\/p>\n","protected":false},"author":27,"featured_media":1245853,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[761,1641],"class_list":["post-1245843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-adani","tag-adani-stock-prices"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Share Prices Of Adani Stocks Zoom Ahead After Supreme Court Found No Evidence Of Price Manipulation - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/share-prices-of-adani-stocks-zoom-ahead-after-supreme-court-found-no-evidence-of-price-manipulation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Share Prices Of Adani Stocks Zoom Ahead After Supreme Court Found No Evidence Of Price Manipulation - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"The 22 May\u2019s trading session witnessed Adani stocks adding about $10 billion to their market value, poised to be the biggest increase since Hindenburg\u2019s report in Jan. 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