Is this really a comeback of Adani's Group?

First month of 2023 was disastrous month for Asia's richest man and chairman of Adani's Group Gautam Adani. As American research company Hindenburg published an exposed report with the title “How The World‘s 3rd Richest Man Is Pulling The Largest Con In” and alleged Adani's group for stock manipulation and accounting fraud scheme. After publishing report Hindenburg stated this is the result of two years of research. In response Adani's Group send 415 pages response to Hindenburg. But Hindenburg put Quesions on this too and said Adani’s group did not answer the most important questions accurately.

Since Hindenburg's Report came in light, shares of Adani's Group started fall off aggressively. Due to this report, the shares of Adani Group fell by 66 percent. But now The declining of the shares in Adani's companies has come to an end and it supposed to be a comeback for Adani's Group. From this week Adani Ports and Special Economic Zone Ltd jumped 8.99 percent to Rs 594.50, Shares of Ambuja Cements Ltd rose 3.34 per cent to Rs 392.45 and ACC Ltd gained 3.12 per cent to Rs 2,031.05. As NDTV shares get 5% upper circuit at Rs. 225.35 .Adani Wilmar also increased by 5% . Economic Times stated that Adani Enterprises stock doubles in last 3 days. On monday Adani Group announced to redeem its pledged shares. For this the Adani's group is ready to pay Rs 9,185 crore.

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