Adani Group stocks witnessed massive buying sentiment on Thursday, January 16, after the US-based short seller announced the shutdown of its operations. Adani Power took the lead, followed by Adani Green Energy, Adani Enterprises, Adani Total Gas and NDTV stocks. As much as 9.2% gains were recorded in the early trade of Adani stocks. Hindenburg had claimed a host of allegations against billionaire Gautam Adani and its conglomerate in late January 2023, which caused a massive market rout. Adani stocks' cumulative market cap is still away from pre-Hindenburg levels.
Adani Group Stocks On January 16:
Adani Group stocks witnessed a minimum of 0.55% surge to 9.21%. Adani Enterprises, the flagship company, gained by 7.72% to hit an intraday high of Rs 2569.85 apiece. The best-performing Adani stock is Adani Power with gains of 9.21% to an intraday high of Rs 599.9 apiece. Also, Adani Green Energy stock zoomed by 8.9% to an intraday high of Rs 1126.8 apiece, and Adani Total Gas share price soared by 7.10% to hit an intraday high of Rs 708.45 apiece. Moreover, Adani Energy Solutions was up by 6.6% to hit an intraday high of Rs 832 apiece.
Further, Adani Ports stock advanced by 5.5% to hit an intraday high of Rs 1190 apiece. Additionally, other Adani stocks like NDTV stock jumped by 7.05%, Ambuja Cements climbed by 4.6% and ACC shares were higher by 4.14%. The least gains were seen in Adani Wilmar as the stock edged up by 0.55%.
Adani Hindenburg Row:
One of the biggest reports by Hindenburg had to be against Adani Group and its chief Gautam Adani. The first mind-boggling report was released on January 24, 2023, where Hindenburg accused Indian conglomerate Adani Group of having engaged in a brazen stock manipulation and accounting fraud scheme over decades. The market cap was around $218 billion of Adani Group then!
However, that one report was enough to cause the damage, leading to one of the biggest market routs and intense pressure in the Indian stock market as all Adani Group stocks were in a back-to-back fallout! To be precise, consistent selloffs in the Adani Group triggered an eye-bulging $150 billion rout, with the net worth of Gautam Adani also falling drastically. Adani Group had denied all allegations over and over again!
And even when Adani is out of the woods with clearance from the Supreme Court and Sebi, their market value is yet to reach pre-Hindenburg level. As of January 16, 2025, all 10-listed stocks of Adani Group cumulatively have market cap around Rs 14.24 lakh crore, at the time of writing.
Why Hindenburg Is Shutting Down?
Hindenburg announced its disbandment on January 15. Its founder, Nate Anderson wrote, "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."
"I write this from a place of joy. Building this has been a life's dream," Anderson added, "I did not know at the outset if it would be possible to find a fulfilling path. This wasn't an easy option, but I was naïve to the danger and felt drawn to it magnetically."
The last critical report of Hindenburg was against an online car dealer Carvana worth $44 billion which was founded in 2012. But Hindenburg was on the map after its one specific report that involved Gautam Adani and his port-to-power empire.
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