Adani Group Cleared of Market Manipulation as Chairman Hails Regulator's Decision
Gautam Adani, Chairman of Adani Group, has hailed India's markets regulator for dismissing major claims made by short-seller Hindenburg Research. The decision clears the conglomerate of stock market manipulation charges and affirms its governance standards.
Over the past two years, Adani Group has made significant strides despite intense scrutiny following a short-seller report that erased $150 billion in market value. The group's portfolio EBITDA rose 57% to ₹89,806 crore ($10.8 billion), and gross block assets increased by 48% to ₹6.1 lakh crore. Adani highlighted several infrastructure achievements, including the launch of India's first container transshipment port, addition of 6 GW of renewable energy capacity, start of operations at the world's biggest copper smelter, and rollout of 4 GW of new thermal power capacity along with 7,000 circuit kilometers of transmission lines.
Adani noted that while the group's market value has not returned to pre-Hindenburg levels, its operations have strengthened. He urged a recommitment to the company's core principles: resilience in adversity, integrity in action, and an unyielding commitment to building a brighter future for India and the world. The group's next priorities will be enhancing governance, driving innovation, and expanding its infrastructure investments.
With the regulator's decision, the Adani Group closes a chapter that began over two years ago. Adani hailed the decision as a clear affirmation of the company's governance standards, stating 'truth has prevailed'. The group now looks ahead to further strengthening its governance, fostering innovation, and expanding its infrastructure footprint.