All Adani Stocks Ride On Bulls, Gains By 14% Ahead Of SC Verdict: Will They Reach Pre-Hindenburg Level Soon?

All Adani shares have skyrocketed amidst a volatile market on Wednesday. Hindenburg saga has once again brought Adani Group-backed stocks into the limelight as the Supreme Court is likely to announce its verdict on the US short seller's allegations against the billionaire Gautam Adani's empire which led to a hundred of crores of market rout and investors lost huge chunk of wealth. Adani shares will be in focus on January 3rd.

In the early trade of Wednesday, Adani Energy Solutions gained the most in terms of percentage to the tune of 13.6% on BSE with an intraday high of 1,205, followed by Adani Total Gas which gained of 10% to hit an intraday high of Rs 1,100, NDTV shares soaring by 9% to hit day's high of Rs 296 and Adani Green Energy shares advancing by 8.6% to touch an intraday high of Rs1,740.25 apiece.

Meanwhile, Adani Group's flagship company, Adani Enterprises rallied by 5.6% to hit an intraday high of Rs 3,094.85 apiece. Further, Adani Wilmar shares jum[ed by 6.7% to hit the day's high of Rs 391 apiece, while Adani Power recorded a 5% upper circuit to touch Rs 544.65 apiece. Notably, Adani Ports and Ambuja Cement share prices touched new 52-week highs of Rs 1,117.1 apiece and Rs 541.45 apiece respectively, surging by 3.6% and 2.04% in the early trade. Lastly, ACC shares have climbed by 1.65% to hit an intraday high of Rs 2,305.15.

Adani Power and Adani Ports by the end of 2023 were the only two stocks that shrugged off the Hindenburg effect and recorded gains. However, since the start of the New Year, investors have been cheerful about the port-to-power empire stocks. And majority of these Adani stocks have shown signs of reaching their pre-Hindenburg levels.

The 2024 outlook for Adani shares has been optimistic, and it will be keenly watched when they surpass the Hindenburg saga shocks and record value-upside.

As per Bars And Bench, on Wednesday, the Supreme Court will deliver the verdict on a series of petitions related to the Adani-Hindenburg matter. Judgment comes after court-appointed committee submitted a report concerning allegations raised by the US-based firm Hindenburg Research against the Adani group of companies, concerning stock market violations

The Hindenburg report which was released in late January last year accused Gautam Adani and his group of brazen stock manipulation and other frauds, dragged the majority of Adani shares sharply in 2023 with the exceptions of Adani Ports and Adani Power. But amidst all the chaos that came as an aftershock of the Hindenburg report, Adani was unstoppable from raising billions of dollars in equity and debt in 2023.

A staggering $15 billions (approximately Rs 41,500 crore) were raised by Adani Group in 2023. Global investors were the biggest buyers of Adani shares in the year. Among them, a US-based investment boutique backed by Rajiv Jain, GQQ Partners will stand out as it invested up to $4.3 billion in five Adani companies between March to August.

Other global investors like Qatar Investment Authority (QIA) and France-based TotalEnergies also pumped $770 million into Adani's renewable energy company, Adani Green Energy.

Moreover, Adani Group's promoters have also infused up to $4.5 billion for repayment of loans against shares. These included repayment of loans taken for the acquisition of the cement business and support for green investment. Furthermore, Adani took loans up to $6.4 billion for five companies and also re-financed its $3.5 billion debt that was taken for acquiring a cement business in 2022.

While raising funds, Adani also made key notable investments for mergers and acquisitions in 2023. The Group acquired Sanghi Cement for $431 million, and bought a 49.38% stake for $128 million in Indian Oil Tanking, up to $181 million in Karaikal port and up to $420 million in Coastal Energen. These were some of the key deals done by Adani in 2023.

Last year, the majority of Adani shares ended in the red with the exceptions of Adani Power and Adani Ports due to a US-based short seller Hindenburg's report allegations. Although, Adani Group denied the accusations, however, found itself trapped in severe volatility that led to the market rout of up to 134 billion dollars of erosion, pushing Gautam Adani's net worth to even below $50 billion.

Currently, the Adani Hindenburg case is awaiting the verdict of apex court which asked Sebi and other regulators to launch an investigation to look into the allegations of the short sellers in late March 2023, in order to protect investors against such market routs in the future.