Adani Group Stocks Surge Amid Financial Strengthening Post-Hindenburg Report

Shares of several Adani Group firms rose, with Adani Ports topping gains on the Sensex and Nifty. Despite some stock declines, research firm Bernstein highlighted the group's improved financial health, citing reduced share pledges and leverage. Adani has denied accusations of fraud and bribery from Hindenburg and US authorities.

Adani Group shares showed significant movement on Tuesday, with most companies seeing an upward trend. Adani Ports led the surge with a 6% increase, solidifying its position as the top performer among Sensex and Nifty firms.

Research firm Bernstein reported that the Adani Group is now financially stronger, having decreased share pledges and reduced leverage. This marks a recovery from earlier accusations made by Hindenburg and recent charges from US authorities, which the Adani Group has strongly denied.

The group's recent progress is also reflected in overall market activity, as both the BSE Sensex and NSE Nifty indices saw notable gains. Bernstein views Adani's reduced debt and improved valuations as positive indicators of its current financial health.

(With inputs from agencies.)