Adani m-cap sees biggest 1-day rise since Hindenburg

Adani Group shares rallied on Tuesday, as all 10 group firms ended with gains following Friday’s Supreme Court observation that the Hindenburg report cannot be considered statement of truth.

The group recorded its biggest single-day jump in combined market capitalisation, jumping $12.5 billion on Tuesday. Markets were closed on Monday on account of a public holiday.

The ports-to-power conglomerate’s combined m-cap stood at $135.7 billion as of Tuesday. It had jumped by as much as $15.8 billion to $139 billion in intra-day trade. In fact, this was the conglomerate’s biggest single-day gain in in 19 months, with the previous instance being $15.82 billion on April 11, 2022.