Adani Stocks Rally as Hindenburg Research Shuts Down Operations
Adani Group stocks saw a significant rally on Thursday, with shares surging as much as 9% after the announcement that US-based short-selling firm Hindenburg Research has ceased operations.
Adani Power emerged as the top gainer, climbing nearly 9% in early trade. Adani Green followed closely, also rising by approximately 9%. Adani Enterprises, which pared some of its early gains, was still up by 7.7%, as the markets reacted positively to the news regarding Hindenburg’s closure.
The development has been seen as a morale boost for Adani investors after the turbulence caused by Hindenburg’s report earlier in the year. Market analysts believe this could further stabilize investor sentiment toward the Adani Group.
In a personal statement, Anderson shared the reasoning behind Hindenburg’s closure, explaining that the firm had successfully accomplished its objectives, and it was the right time to move forward. He noted that the decision to shut down had been in the works for several months, with the team wrapping up its final investigations before concluding operations. “The idea was to bring things to a close after completing our remaining work,” Anderson stated.