The markets, especially the Adani Group company shares, have woken up to some interesting developments on Thursday, January 16. Earlier in the day, Hindenburg Research, a US-based short-selling activist group has announced its disbandment.
Hindenburg Disbands
The post carrying the link to the note from the group’s founder Nathan Anderson was shared on X in the wee hours of January 16. Thenote from Anderson said the group has decided to disband, and it read the following, “As I’ve shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research. The plan has been to wind up after we finished the pipeline of ideas we were working on. And as of the last Ponzi cases we just completed and are sharing with regulators, that day is today.”
The Adani Group company shares on the Indian equity markets reacted to these developments in euphoria.
Adani Enterprises Ltd
The shares of Adani Group’s flagship, Adani Enterprises, rose significantly at the opening of the day’s trade. The company shares that opened at Rs 2,500.00, higher than the previous day’s Rs 2,388.15, slipped slightly while continuing to maintain a healthy lead.
At the time of writing, the overall surge stood at 3.15 per cent or Rs 75.30, taking the overall value of the company shares to Rs 2,463.45 per share.
Adani Power Ltd
Other major companies from the conglomerate that were trading in green with major gains included Adani Power.
The Adani Power shares, which started in green, higher than its previous closing, surged further.
Adani Power’s stock price surged to Rs 574.75 per piece. This came to pass after an uptick of 4.60 per cent or Rs 25.30, in the early hours of the day’s trade on Thursday.
Adani Green Energy Ltd
Adani Green, a company, that was in the middle of all the chaos in the US indictment also saw its shares zoom in the early hours of the day. It saw one of the biggest rises of the day.
The shares of Adani Green also surged in excess of 5 per cent. At the time of writing, the surge in value stood at 5.87 per cent or Rs 60.75, pushing the value of each Adani Green share piece to Rs 1,095.80.
