Adani Group Shares Soar as SEBI Rejects Hindenburg Allegations

New Delhi, September 22, 2025 – On Monday, the Adani Group shares went up for the second consecutive day. The surge came on a positive note after the Securities and Exchange Board of India (SEBI) dismissed the allegations of manipulation of shares and misuse of associated parties in the Hindenburg case.

Adani Power Becomes the Leader

Adani Power led the gains with closing of 20% surge, touching a day’s high of ₹170.25 on BSE. The jump followed after the stock had already appreciated over 12% on Friday, indicating investor optimism.

Broad-Based Gains Across the Group

The listed stocks saw a positive growth. Adani Total Gas closed at ₹781.6 up 19.98 percent, and Adani Green Energy rallied 8.12 percent closing at ₹1,158.8. Adani Energy Solutions closed at ₹940 up 7.17 percent, and Adani Enterprises closed up 4.32 percent at ₹2,633. NDTV rallied 3.51 percent before closing at 0.47 percent, Sanghi Industries rallied 2.38 percent, and Adani Ports, ACC, and Ambuja Cements all closed around 2 percent higher.

SEBI Clearance Improves Investor Sentiment

The surge occurred as SEBI released a verdict on Thursday that closed its investigation into the accusations made by US-based short seller Hindenburg Research earlier in 2023. The regulator informed that it has found no evidence to support allegations of manipulation of shares or abuse of related parties. This clean chit has left investors far more convinced, and that is a huge shift in the market’s perception of the group.

Market Reaction and Outlook

Experts noted that SEBI clearance has restored investors’ trust in the Adani Group, which had come under scathing criticism following the Hindenburg report. The positive market reaction reflects the resilience of the conglomerate and the importance of regulatory certainty in shaping investor sentiment.

The rally carried over to Monday’s session, where the focus was on the market’s interest in fundamentals and regulatory announcements over stale controversy. Investors will continue to monitor trading activity and the overall market reaction in future sessions to determine whether this pace can be maintained.

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