The Adani Group stocks were back in focus today as investors cheered the regulatory clean chit from SEBI. On September 19, shares of Adani Enterprises, Adani Power, Adani Green Energy, and Adani Total Gas surged sharply—rising up to 10%—bringing fresh momentum to the broader stock market today.
This rally came after months of uncertainty triggered by the Hindenburg Research allegations. With the regulator’s ruling now out, the mood on Dalal Street was notably upbeat.
Market Performance: How Adani Stocks Moved Today?
The trading session saw strong buying interest in Adani counters, with volumes spiking across exchanges.
- Adani Enterprises: rose sharply in early trade, pulling broader group sentiment higher.
- Adani Power: registered significant gains, touching multi-month highs.
- Adani Green Energy: surged in tandem, adding to investor enthusiasm.
- Adani Total Gas: joined the rally, closing with strong upside momentum.
The up to 10% rally highlighted the immediate market reaction to SEBI’s announcement.
The Main News: SEBI’s Clean Chit to Adani Group
The turning point came with two detailed orders from the Securities and Exchange Board of India. The regulator concluded there was no evidence to suggest that the Adani Group had:
- Routed funds through related parties to inflate stock prices.
- Engaged in insider trading or market manipulation.
- Violated public shareholding norms.
This conclusion followed months of investigation and scrutiny after the Hindenburg report of January 2023.
Hindenburg Allegations at a Glance
Hindenburg Research, now closed, had alleged that Adani used three firms—Adicorp Enterprises Pvt Ltd, Milestone Tradelinks Pvt Ltd, and Rehvar Infrastructure Pvt Ltd—as channels to funnel money back into Adani Enterprises and Adani Power.
The claims sparked a selloff of over $100 billion in market value, shaking investor confidence in early 2023.
However, SEBI clarified that transactions with these firms did not meet the definition of “related-party transactions” under prevailing rules at that time, meaning there was no disclosure breach.
Company Details: Adani Group’s Market Journey
While the clean chit restores regulatory confidence, the stock performances in 2025 paint a mixed picture:
- Adani Enterprises: down nearly 19% YTD, reflecting investor caution despite today’s bounce.
- Adani Green Energy: also declined by around 19% YTD, hit by volatility and sector pressures.
- Adani Total Gas: mirrored similar declines of about 19% YTD.
- Adani Power: stood out with a 19% YTD gain, emerging as a turnaround story within the group.
- Adani Ports: also gained during the year, further adding balance to the group’s overall performance.
The contrasting stock movements show that while regulatory relief is positive, investor sentiment continues to differentiate between group companies.
Why This Matters for Investors?
The SEBI ruling is more than a regulatory closure—it removes a long-standing cloud of suspicion that had hovered over the group. For months, Adani’s name was synonymous with volatility, global scrutiny, and investor nervousness.
Today’s rally indicates that with the clean chit, market sentiment may stabilize, even if stock-specific performance remains uneven. The order also echoes the conclusion of a Supreme Court-appointed expert panel, which had earlier found no prima facie evidence of wrongdoing.
Summary
- Adani Group stocks surged up to 10% on September 19 after SEBI cleared the group of stock manipulation allegations.
- The probe found no evidence of insider trading, related-party fund routing, or shareholding violations.
- Hindenburg Research’s 2023 report had caused a $100 billion market value wipeout, but the regulator’s ruling closed that chapter.
- In 2025 so far, Adani Enterprises, Adani Green Energy, and Adani Total Gas are down 19%, while Adani Power and Adani Ports are up 19%.
- The ruling provides relief to the conglomerate and signals improved regulatory clarity for markets.
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