Adani Group stocks settle higher, valuation surges ₹69,000 crore in a day as SEBI clears Hindenburg allegations

Adani Group companies gained over ₹69,000 crore in market capitalisation in a single session on Friday, fueled by a buying frenzy 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, ignited a surge of investor confidence, sending Adani stocks sharply higher across the board.

Shares of the Adani Group settled with impressive gains. For instance, Adani Power shares zoomed as much as 13.42% to settle at ₹716.10 per equity on the National Stock Exchange (NSE), while Adani Enterprises rallied 5.25% and closed at ₹2,528.

Adani Total Gas shares jumped as much as 7.55% to close at ₹652.80 apiece on the NSE.

Adani Green Energy shares closed 5.48% higher at ₹1,032.50 apiece on the NSE, while Adani Ports and Special Economic Zone settled 1.15% higher at ₹1,429 on the NSE. ACC Ltd shares closed 0.69% uptick at ₹1,871 apiece on the NSE, while Ambuja Cements settled 0.31% higher at ₹582.80. Adani Energy Solutions rose 4.94% to close at ₹878.95 per share.

Adding to a report by news agency Press Trust of India (PTI), Morgan Stanley initiated coverage on Adani Power, marking the first such recommendation in more than a decade by the research house. The move is being read as a signal that confidence is returning not just among retail investors but also across global institutional stakeholders, who had largely stayed on the sidelines since the Hindenburg-triggered crash.

The rally came just a day after SEBI concluded its investigation, stating that it found no evidence to support the accusations raised by US-based short seller Hindenburg Research in early 2023. Those allegations had erased nearly $150 billion in market value across Adani Group stocks at their peak, sparking 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.

Adani Group companies dominated the top gainers list on the exchanges, and the trading volumes in these counters reflected heightened investor activity. The surge was particularly notable in energy-related stocks, but the impact was broad-based across the group, from its flagship incubator company to its media arm.

Other updates

Early in September 2025, the news report surfaced that industrialist Gautam Adani-led Adani Group was looking to invest around $60 billion up to FY32 in the power sector, especially in renewables, generation and transmission/distribution.

In an investor presentation, Adani Power said the group plans a $21 billion investment by FY30 to scale up renewable energy capacity to 50 GW from 14.2 GW as of FY25.

Part of the Adani Group, Adani Green Energy Ltd (AGEL) develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects.

The group would invest $17 billion in building transmission and distribution capabilities through Adani Energy Solutions Ltd (AESL).

AESL is a multidimensional organisation with a presence in various facets of the energy domain, namely power transmission, distribution, smart metering, and cooling solutions.

The company looks to set up 30,000 km of transmission lines to support India's growing energy needs by FY30, from 19,200 km as of March 31, 2025, according to a PTI report.