Adani Power zooms 6% as group clears SEBI probe hurdle
Adani Power's stock jumped over 6% on Thursday, quickly recovering from a big dip earlier this week.
The recent ups and downs came after a stock split and some profit-taking, but the real buzz is about what happened next.
SEBI dismisses Hindenburg allegations
SEBI, India's market regulator, has officially dismissed Hindenburg Research's allegations against the Adani Group. This move has given investors a confidence boost.
Gautam Adani described the regulatory clearance as "a powerful validation of the transparency, governance and purpose with which your company has always operated," pointing out that the group's earnings have jumped 57% in two years and its assets are up nearly 50%.
New projects on the way
The group just launched India's first container transshipment port at Vizhinjam and ramped up its renewable energy game by adding 6GW of capacity.
With new infrastructure projects rolling out, Adani says this is a turning point—and promises even more focus on good governance and sustainability ahead.