Adani Group stocks continue to surge; Adani Power jumps 20%

New Delhi: Adani Group companies continued to rally on Monday, with Adani Power surging 20 per cent, propelled by heavy buying following markets regulator Sebi's clean chit in the Hindenburg case.

The regulator's order, which dismissed allegations of stock manipulation and related-party misuse, has led to optimistic investor sentiment, sending Adani stocks sharply higher for the second day in a row.

Shares of Adani Power jumped 19.99 per cent to hit its upper circuit limit of Rs 170.15 on the BSE.

The stock of Adani Total Gas soared 17.49 per cent, Adani Green Energy zoomed 8.12 per cent, Adani Energy Solutions jumped 5.67 per cent, Adani Enterprises Ltd surged 4 per cent, NDTV went up by 3.51 per cent, Sanghi Industries edged higher by 3.29 per cent, Adani Ports went up by 2 per cent, ACC (2 per cent) and Ambuja Cements (2 per cent).

The rally in the stocks came after Sebi on Thursday concluded its investigation, stating that it found no evidence to support the accusations raised by US-based short seller Hindenburg Research in early 2023.

On Friday, Adani group firms ended higher, with Adani Power surging over 12 per cent.