• Source:JND
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Adani Group Stocks: Shares in nine of the ten Adani Group firms rebounded on Tuesday, a day after stocks fell sharply following new allegations from Hindenburg Research.

Today's in early trade, Adani Energy Solutions' stock jumped 6 percent in a sharp rally, Adani Total Gas gained 4 percent, Adani Green Energy gained 2.55 percent, and NDTV gained 2.56 percent,  on the BSE.

Adani Wilmar rose 2.15 percent, ACC (1.93 percent), Adani Power (1.74 percent), Adani Port (1 percent), and Ambuja Cement (0.43 percent).

Adani Enterprises had slightly lower trading during the early trading period.Group firms suffered losses in intra-day trade on Monday after US short seller Hindenburg Research alleged that Sebi chairman Madhavi Puri Buch and her husband made undisclosed investments in obscure offshore funds in Bermuda and Mauritius, which Vinod Adani allegedly used to roundtrip funds and inflate stock prices.

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On Saturday evening, Hindenburg alleged that a conflict of interest prevented Sebi Chairman Buch from conducting a thorough investigation into the allegations against the Adani group. Both Buch and the Adani group issued strong denials for the same on Sunday.

Buch and her husband released a statement calling Hindenburg's latest rebuke an attack on Sebi's credibility and an attempt at "character assassination."

Buch and her husband Dhaval Buch said in a joint statement on Sunday that the investment was made in 2015, long before she was appointed a full-time member of Sebi in 2017 and then elevated to chairman in March 2022, while she was living in Singapore as a "personal citizen." This amount went "dormant" with her appointment to Sebi.

On Sunday, the Adani Group called Hindenburg Research's latest allegations "malicious and selective manipulation of public data" and said it had no business relationship with the Sebi chairman or her husband.

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(With Agencies Input)