Shares of Adani group companies trimmed gains in afternoon trade after the Supreme Court disposed of petitions filed on the Adani-Hindenburg issue to initiate a Special Investigation Team (SIT) or CBI probe. While the stocks cooled off from the day’s highs, they held firm gains of up to 7 percent.
The apex court said that there was no ground made out to quash the FPI regulations, which resulted in sharp declines in share prices earlier. “No valid ground raised to revoke amendment to FPI, LODR recommendations, SEBI directed to complete remaining 2 probes within 3 months,” the Supreme Court said on January 3, 2024.
Shares of the flagship Adani Enterprises, which rose up to 7 percent in the morning, shaved gains to trade 2 percent higher at around noon. Adani Ports and SEZ was up nearly half a percent. Other Adani group stocks, Adani Wilmar, Adani Green Energy, Adani Power, Adani Total Gas and Adani Energy Solutions were up 2-6 percent.
