Shares of 9 Adani Group companies bounced back

Adani Share: On August 13, 2024, shares of 9 out of 10 companies of the Adani Group have returned to their glory days after the release of the second report by US short seller Hindenburg Research. However, 8 out of 10 companies of the Adani Group fell sharply on Monday. In a second report issued by Hindenburg late on Saturday, August 10, 2024, allegations were made directly against Sebi chairperson Madhavi Puri Buch, her husband Thaval Buch and Vinod Adhani, elder brother of Adani Group chairman Gautam Adani. The report alleged that Sebi chairperson Madhavi Puri Buch and her husband Thapal Buch had invested in undisclosed offshore funds in Bermuda and Mauritius and swindled funds to manipulate share prices of Vinod Adani Group companies. Nine of Adani Group's 10 companies listed on the Sensex gained 6 percent on Tuesday, with shares of Adani Energy rising. Of this, Adani Energy Solutions' shares rose 6 percent. However, its shares fell 17 percent on Monday. Apart from this, shares of Adani Total Gas gained 4 percent, NDTV 2.56 percent, Adani Green Energy 2.15 percent, ACC 1.93 percent and Adani Power 1.74 percent. percent and Ambuja Cements gained 0.43 percent. The market capitalization of Adani group companies fell by Rs 22,064 crore. Amidst this decline, the group companies' market capitalization collectively fell by Rs 22,064 crore. Adani Wilmar fell 4.14 percent, Adani Total Gas 3.88 percent, Adani Energy Solutions 3.70 percent, NDTV 3.08 percent, Adani Ports 2.02 percent, Adani Enterprises 1.09 percent, ACC 0.97 percent and Adani 0.97 percent. Also Read: Hindenburg's Second Report Creates Buzz! Know the story so far, the Buch couple's money is invested in Bermuda and Mauritius funds: Hindenburg Hindenburg Research said in its second report released on Saturday night that Sebi's chief Madhavi Puri Buch and her husband Thawal. Buch had made undeclared investments in shady offshore funds in Bermuda and Mauritius. He said that Vinod Adani misappropriated the funds and used these funds to prop up share prices of group companies. Vinod Adani is the elder brother of Adani Group chairman Gautam Adani. Also Read: Finance Ministry slams SEBI in Hindenburg case, says nothing to talk about after Madhavi Buch