By Gautam Adani’s wealth has surged by $13 billion over two trading sessions, following key regulatory relief that eased investor concerns and triggered heavy buying across his listed companies.
The sharp rise in market value comes after the Securities and Exchange Board of India (SEBI) dismissed parts of a high-profile case against the Adani Group, marking a turning point more than two years after US short-seller Hindenburg Research issued allegations that had erased tens of billions from the conglomerate’s market value.
The ruling has reignited investor interest, placing Adani within close range of Mukesh Ambani’s title as Asia’s richest person.
Adani net worth rises as stocks rally
The Bloomberg Billionaires Index showed Adani’s net worth climbing to $95.7 billion after the two-day surge.
On Monday alone, the billionaire added $8.3 billion to his fortune as shares of his group’s companies soared.
The rally has pushed Adani’s year-to-date wealth gain to 21.6%, signalling renewed investor trust in his conglomerate.
Adani Enterprises Ltd., the group’s flagship, registered its strongest bullish activity in nearly two years.
The rally also spread across the group’s green energy arm, where Adani Green Energy Ltd. options recorded record-high wagers.
Heavy block deals were reported on Monday as institutional investors returned to the stock after months of caution.
SEBI ruling boosts confidence
The surge followed SEBI’s late-Thursday orders stating that it found no evidence of the Adani Group using related-party transactions to channel funds into its listed companies.
This specific charge was one of the central points of the Hindenburg Research report published in January 2023.
The regulator’s findings provided much-needed clarity, helping lift investor sentiment that had remained fragile since the allegations.
The case had triggered one of the most significant wealth declines in India’s corporate history, wiping out more than $100 billion in market value across Adani stocks at its peak.
Remaining investigations
Despite the relief, Adani Group remains under scrutiny. SEBI continues to probe other allegations raised by Hindenburg, and additional orders are expected depending on the findings.
Alongside the domestic investigations, a bribery case filed by the US Department of Justice in 2023 also remains open.
These ongoing proceedings mean that regulatory uncertainty persists, even as investors rush to capitalise on the current rally.
Analysts are monitoring whether SEBI’s next steps or the outcome of the DOJ case will dampen the momentum built over the last two trading sessions.
Market reaction and future impact
The investor response to SEBI’s orders was immediate. Across the group’s companies, trading volumes spiked, and optimism spilt into the derivatives market.
The broader Indian equity market also saw a boost from the Adani surge, reflecting the conglomerate’s influence on index performance.
While questions remain about future regulatory developments, the latest rally highlights how investor sentiment in India’s markets is strongly shaped by clarity from regulators.
For Adani, the development has helped restore market confidence and placed him within striking distance of Ambani’s $98.6 billion fortune.
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