Adani Group stocks zoom after SC hearing

  • IANS
  • Stock Market News
Adani Group stocks zoom after SC hearing
Credit: © Reuters.

New Delhi, Nov 28 (IANS) Adani Group stocks rallied up to 20 per cent on Tuesday after the Supreme Court on November 24 reserved its order in the Adani-Hindenburg case.Adani Total Gas (NS: ADAG ) is up 19 per cent, Adani Energy is up 17 per cent, Adani Green is up 14 per cent, Adani Power (NS: ADAN ) is up 13 per cent, Adani Enterprises (NS: ADEL ) is up 10 per cent.

The court said that the Securities Exchange Board of India (SEBI) cannot be expected to follow what newspaper reports have said in order to make its findings.

The Chief Justice of India also expressed displeasure over the use of information from reports by organizations like the Organized Crime and Corruption Reporting Project and Hindenburg Research by the petitioners.

The Solicitor General of India, Tushar Mehta brought new facts regarding the OCCRP report to the notice of the Supreme Court.

As per the Solicitor General, when the SEBI wrote to the OCCRP seeking details and documents relied upon by the organisation while making the allegations against the Adani Group in the August 31 report, the OCCRP did not share the details of the allegations and said that they could instead be obtained from an NGO in India, which had provided it the information.

As per the Solicitor General, this NGO is run by Prashant Bhushan.

During the hearing, the Solicitor General of India informed the Court that investigation in 22 out of the 24 cases relating to allegations against the Adani Group were over.

"For remaining two, we need information from foreign regulators etc. and some other information. We have been in consultation with them. Some information has come but that is where we are not in control of the time limit for obvious reasons...," he said.

--IANS

biz/san/ksk

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
  • pankaj bhardwaj @pankaj bhardwaj
    strong buy signals
    Like 2
  • Champ Mohite @Champ Mohite
    upar jata hai to becho nichey ata hai to lelo , kuch bhi ho adani stock technical chart achhe sey follow to karte hai hee
    Like 1
  • kaizad khodayari @kaizad khodayari
    NEVER INVEST IN ADANI , WE HAVE SO MANY BETTER STOCKS TO INVEST.DO CONSIDER COMPANY AND MANAGEMENT AND OWNER BEFORE INVESTING.WE ALL KNOW WHAT ADANI IS ALL ABOUT. HE CAN BE NEXT MALIA IN MAKING.
    Like 1
  • Akhilesh Mishra @Akhilesh Mishra
    politically motivated against innocent retail investors but finally adani stocks showed their strength
    Like 2
  • Upendra Nath Machanuru @Upendra Nath Machanuru
    Wow great good news for Adani stocks
    Like 1

Related Articles