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Adani Group stocks surged by up to 9% on Thursday, January 16, following the announcement that Hindenburg Research
Adani Stocks Rise
Adani Stocks Rise Today: Adani Group stocks surged by up to 9% on Thursday, January 16, following the announcement that Hindenburg Research, the US-based investment firm known for its short-selling activities, would disband. Shares of Adani Power rose by 9%, reaching a high of Rs 599.90 on the BSE, while Adani Green Energy jumped 8.8% to Rs 1,126.80. Adani Enterprises saw a 7.7% rise, reaching Rs 2,569.85, and Adani Total Gas gained 7%, climbing to Rs 708.45.
Adani Energy Solutions advanced 6.6%, hitting a day’s high of Rs 832.00, and Adani Ports gained 5.5%, trading at Rs 1,190.
Founder Nate Anderson announced the decision to disband Hindenburg Research, stating that the firm’s operations would wind down after completing its pipeline of investigative reports.
Hindenburg Research became widely known in India in early 2023 after publishing a controversial report targeting the Adani Group, accusing it of being involved in “the largest con in corporate history.” The report, which alleged stock manipulation by the conglomerate, led to a sharp decline in the Adani Group’s market value. However, the group later recovered most of the losses, as the accusations were not substantiated.
Beyond the Adani Group, Hindenburg Research also targeted India’s market regulator, Madhavi Puri Buch, and her husband in previous reports.
The closure of Hindenburg Research bolstered investor sentiment, contributing to the strong performance of Adani Group stocks.
Meanwhile, shares of Ambuja Cement saw a moderate 4.5% gain, peaking at Rs 542.80, while Adani Wilmar rose modestly by 0.5%.
In his statement, Anderson revealed, “As I’ve shared with family, friends, and our team since late last year, I have made the decision to disband Hindenburg Research.” He explained that the firm’s work was wrapping up with its final investigations into Ponzi schemes, signaling the end of its research activities.
Hindenburg’s Impact on the Adani Group
Throughout 2023, Hindenburg Research published multiple reports targeting the Adani Group, resulting in significant financial fallout for Gautam Adani. A large portion of the group’s market value was wiped out following the accusations, though it later recovered most of its losses.
Despite the serious nature of the allegations, Adani and his companies have consistently denied all charges.
The Road Ahead
In a recent interview with The Wall Street Journal, Anderson shared his future plans, including focusing on hobbies, traveling, and spending more time with his fiancée and child. He also mentioned a shift toward low-stress investments such as index funds, noting that he has accumulated enough wealth to ensure his family’s financial security.
Anderson expressed his commitment to supporting his former team members as they transition to new opportunities. He revealed that some may start their own research firms, which he intends to encourage, while others are pursuing new ventures. Anderson welcomed inquiries from those interested in collaborating with his talented former colleagues, emphasizing their capabilities as “brilliant, focused, and easy to work with.”
