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Adani stocks rally as SC ruling wins back confidence of investors

In its decision on Wednesday (3rd Janu201924), the Supreme Court concluded that there is insufficient evidence to warrant the referral of the Hindenburg Report Adani conflict to the Special Investigations Team (SIT) or any other investigating agency. For the remaining two cases, it gave the market regulator, SEBI, three months to complete the probe.<br><br>

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Adani stocks rally as SC ruling wins back confidence of investors

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  1. Adani stocks rally as SC ruling wins back confidence of investors :JGB

  2. In its decision on Wednesday (3rd Jan’24), the Supreme Court concluded that there is insufficient evidence to warrant the referral of the Hindenburg Report Adani conflict to the Special Investigations Team (SIT) or any other investigating agency. For the remaining two cases, it gave the market regulator, SEBI, three months to complete the probe.

  3. Estimates put Gautam Adani's net fortune at $119 billion before the Hindenburg Report Adani made his vicious charges on January 24, 2023. The fortune that Adani had amassed via his ownership in the ten listed firms had shrunk to $37.8 billion as of February 27, according to research by Mint. Adani was valued at $86 billion as of Wednesday, reflecting the tycoon's fairly erratic year.

  4. The Adani Group's ability to diversify its holdings has been a key factor in its resilience. The firm has cautiously expanded into new sectors, including renewable energy and data centres, in order to align its interests with growing market trends.

  5. The Adani stock price surged after a favorable Supreme Court ruling, signaling a turning point for the company. Restoring investor trust has been aided by favorable market conditions, the Adani Group's strategic goals, and the removal of regulatory obstacles.

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