Adani group stocks saw a significant rally on Thursday following the announcement that Hindenburg Research, the US investment research firm known for short-selling, has been shut down.
Shares of Adani Power surged 9.21 per cent, Adani Green Energy soared 8.86 per cent, and Adani Enterprises climbed 7.72 per cent on the BSE. Other Adani group companies also experienced gains, including Adani Total Gas (7.10 per cent), NDTV (7 per cent), and Adani Energy Solutions (6.63 per cent).
Hindenburg Research, founded by Nate Anderson, announced its closure on Wednesday.
In a statement, Anderson said, “As I’ve shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research.
The plan has been to wind up after we finished the pipeline of ideas we were working on. And as of the last Ponzi cases we just completed and are sharing with regulators, that day is today.”
In recent years, Hindenburg Research had targeted the Adani group through several reports, which resulted in substantial financial losses for the conglomerate. Adani and his companies have consistently denied all charges.
“There is not one specific thing—no particular threat, no health issue, and no big personal issue,” Anderson added.
“Someone once told me that at a certain point a successful career becomes a selfish act. Early on, I felt I needed to prove some things to myself. I have now finally found some comfort with myself, probably for the first time in my life,” he said.
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