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What's Up with ADANI Group Stocks?

by Financegossips

Adani Group Stocks gained on Thursday after the Supreme Court asked SEBI to investigate whether the claims by Hindenburg report are true or not.

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On Thursday, about 3.9 crore Adani Enterprises' shares changed hands in a ₹5,520 crore deal. The shares traded 2.50% higher on BSE.

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In late January, US short-seller Hindenburg Research accused the Adani Group of fraud and since then all 10 Adani Group Stocks have been tumbling over until Wednesday

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On Wednesday, all 10 Adani Stocks end higher for the first time since the Hindenburg report. Adani Enterprises led the rally, advancing almost 15%.

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As a result of the report, Gautam Adani who was the world's third-richest person a month ago, has lost $80 billion in wealth.

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Amidst all of this chaos, Adani Ports and Special Economic Zone (APSEZ) handled 300 million metric tons of cargo in 329 days as of February 23.

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APSEZ surpassed its own record of handling the same amount of cargo in 354 days last year.

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As Supreme Court ordered an investigation on the Hindenburg report, Mr. Gautam Adani said that the truth would prevail and bring finality in a time-bound manner.

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