Adani Group stocks jump after US-based investment firm GQG Partners bet

All the 10 Adani Group stocks rallied on Friday, capping their best week since Hindenburg Research’s report was published on January 24, and led to a wipe out of over $150 billion (Rs 12 trillion) of its market value.

Rajiv Jain-led GQG Partners’ acquisition of $1.87 billion (Rs 15,446 crore) worth of stake in four Adani Group companies was seen by investors as a vote of confidence for the beleaguered group.

The group flagship Adani Enterprises rallied the most at 17 per cent, extending this week’s gain to 43 per cent. Adani Ports & SEZ gained nearly 10 per cent, while the remaining eight stocks added around 5 per cent each.