Adani-Hindenberg Case: Stocks Trade in Green After CJI Asks All Parties To File Final Submissions By Wednesday

The share price of most Adani group stocks including Adani Enterprises, Adani Energy Solutions, Adani Ports, and Adani Green Energy traded in the green on Monday. The positive movement in the shares of Adani group stocks was seen amidst positive trading on Dalal Street. Today, the Indian benchmark indices opened higher, Sensex was up 0.60% at 64,747.25 points while Nifty 50 was up 0.63% at 19,351.95 points at 12:14 pm IST.

Adani stocks grabbed attention after the Chief Justice of India (CJI) DY Chandrachud on Monday asked all parties in the Adani-Hindenburg case to file final submissions by Wednesday.

Meanwhile, other reasons why Adani shares remained in focus include a news report that said that Adani Group is expected to sell its entire stake in Adani Wilmar and the release of Q2 earning report by Adani group firm Adani Energy Solutions later today.

Ahead of the Q2 results, Adani Energy Solutions shares were spotted trading 0.83% higher at Rs 771.50 per share at 11:55 am IST today. Today, the petitioners in the Adani Hindenburg case red-flagged the continuous deferment of hearing before the Supreme Court on Monday. The petitioners asserted that the case was due to be listed on August 28, but has been continuously deferred since.

The CJI-led bench of the Supreme Court has assured petitioners that the matter will be looked into.

The Gautam Adani-led ports-to-power conglomerate came under controversy after the US Short seller Hindenburg Research on January 24 this year accused the group of stock price manipulation and other charges. However, the Adani group refuted the charges and called them baseless and a "malicious combination of selective misinformation."

How Are Other Adani Shares Performing Today?

Adani Enterprises shares were trading 0.33% higher at Rs 2236.00 per share at 12:36 pm IST on Mondy. The share price of Adani Ports was up 1.07% at Rs 803.95 per share at 12:56 pm IST. Adani Green Energy shares were up 2.31% at Rs 923.40 per share at 12:35 pm IST.