Adani Group shares rise as Hindenburg founder disbands short-seller

Adani Enterprises Limited. File
| Photo Credit: Reuters

Adani Group company shares rose sharply on Thursday (January 16, 2025) morning at stock exchanges hours after Hindenburg Research founder Nate Anderson announced his decision to disband the entity.

On Wednesday (January 15, 2025) Mr. Anderson said that it has completed the projects it was handling.he plan has been to wind up after we finished the pipeline of ideas we were working on,” Anderson said Wednesday.

“And as of the last Ponzi cases we just completed and are sharing with regulators, that day is today,” he added.

At the time of filing this report Adani Enterprises Limited, the group’s holding company was up 4.16 and trading at ₹2485, Adani Ports was up 3.61% at ₹1,172, Adani Power was up 4.79% at ₹576, Adani Energy Solutions was up 2.5% at ₹799, Adani Green Energy was up 4.91% at ₹1086 and Adani Total Gas was up 3.8% at 687. Other group entities were also trading in the positive territory.

The American short-seller had in 2022 accused the Adani group of violation of corporate governance norms and manipulation of its share prices which the Group had rejected and termed it incorrect and motivated.