Adani Group shares rally for second day; valuation jumps ₹1.78 lakh crore

Adani Group companies continued to rally on Monday, adding ₹1,78,598.41 crore in market valuation in two days, propelled by heavy buying in listed stocks following Securities and Exchange Board of India’s (SEBI) clean chit in the Hindenburg case.

The market regulator's order, which dismissed allegations of stock manipulation and related-party misuse, has led to optimistic investor sentiment, sending Adani stocks sharply higher for the second day in a row.

On Monday, shares of Adani Power jumped 19.98% to hit its upper circuit limit of ₹170.25 apiece on the National Stock Exchange (NSE).

Adani Total Gas led the charge with a 19.99% jump, closing at ₹781.70 per share. Adani Green Energy followed with a strong 11.87% rise, finishing at ₹1,153. Adani Energy Solutions also saw solid gains, up 6.52% to ₹934.30 apiece. Adani Enterprises Ltd recorded a 3.98% increase, closing at ₹2,624.50.

Other notable performers included Ambuja Cements, which rallied 1.30% to ₹590, Adani Ports advancing 1.20% to ₹1,445, and ACC shares edging up 0.21% to close at ₹1,883.10 per equity share.

Together, these firms added ₹1,78,598.41 crore in market valuation in two days.

The broad-based rally reflects growing investor confidence across the Adani Group and associated sectors.

A similar rally in the stock price and the market valuation was seen on Friday. The market capitalisation gained over ₹69,000 crore in a single session, whereas, all the Adani Group stocks also settled in green.

SEBI has concluded its investigation, finding no evidence to substantiate the allegations made by US-based short seller Hindenburg Research in early 2023. Those accusations had previously wiped out nearly $150 billion in market value from Adani Group stocks at their peak, triggering a global debate on governance, transparency, and political influence.

The clean chit, therefore, is being seen as a watershed moment for the conglomerate and a major relief for investors who had been waiting for regulatory clarity before taking fresh positions.

Other updates

Earlier this month, reports indicated that Gautam Adani-led Adani Group aimed to invest nearly $60 billion in the power sector by FY32, with a strong focus on renewables, generation, and transmission/distribution.

In an investor presentation, Adani Power revealed that the group intends to allocate $21 billion by FY30 to expand renewable energy capacity to 50 GW, up from 14.2 GW in FY25.

Adani Green Energy Ltd (AGEL), a subsidiary of the group, is engaged in developing, constructing, owning, operating, and managing large-scale grid-connected solar and wind projects.

Additionally, the group plans to channel $17 billion into strengthening transmission and distribution infrastructure through Adani Energy Solutions Ltd (AESL).

AESL is a diversified organisation active in multiple areas of the energy sector, including transmission, distribution, smart metering, and cooling solutions.

According to a PTI report, the company aims to build 30,000 km of transmission lines by FY30 to meet India’s rising energy demands, compared with 19,200 km as of March 31, 2025.