Adani Group Stocks:Adani Group shares are flying today after Hindenburg's new allegations. Adani Power and Green Energy shares are up after getting a big order from Maharashtra. Along with this, all the 10 stocks of the group are up. Adani Group companies said that Maharashtra Discom has issued a letter of intent for the supply of 6,600 MW of hybrid solar and thermal power. Adani Green will supply 5 GW (5,000 MW) of solar energy from Khavda, while Adani Power will supply 1,496 MW of thermal power from its new 1,600 MW ultra-supercritical capacity.
Let us tell you that just a few days ago, citing a report, the American short seller firm had said that the Swiss accounts of Adani Group have been frozen. Adani Group had completely denied these allegations. After this, there was some pressure on the shares of the group, but today investors have also responded to Hindenburg by buying shares strongly.
In the early trade, Adani Power was up by more than 7 percent. It reached Rs 677.85. Adani Green Energy jumped more than 6 percent and was trading at Rs 1896. Adani Enterprises was up by 1.87 percent. Around 9:45 am, Adani Wilmar also rose 3.63 percent to reach Rs 373.50. Adani Ports was also trading in the green at Rs 1460.
Adani Energy Solutions was up 2.12 percent and was trading at Rs 1004.15. ACC was also trading in the green at Rs 2529. Ambuja Cement was up 0.11 percent and was at Rs 630.30. NDTV was up 2.59 percent and was at Rs 197.93.
Hindenburg's attack on Adani Group
Hindenburg had accused the Adani Group in its first report last year that the promoters had bought their own shares through foreign funds, breached the 75% limit and inflated the share prices. The Adani Group kept denying these allegations and the Supreme Court ordered SEBI to form an expert committee to investigate. SEBI could not find anything in this case.
What are the charges this time?
Now the decision of Switzerland's biggest court has again raised questions on the Adani Group. The court reportedly rejected the appeal of the anonymous person accused of running the accounts on behalf of Adani. His appeal was that the freeze on the anonymous accounts be lifted. There is about Rs 2600 crore in these accounts. According to a report, the Swiss bank case was going on even before the Hindenburg report came. Swiss authorities started running the case against the anonymous person in December 2021 and the Hindenburg report came in January last year.
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