Hindenburg Research published reports against the Indian conglomerate in 2023, accusing the Adani Group of using offshore tax havens improperly.

Shares of Adani Power surged 9.21 per cent, Adani Green Energy soared 8.86 per cent, Adani Enterprises climbed 7.72 per cent, Adani Total Gas jumped 7.10 per cent, NDTV rallied 7 per cent and Adani Energy Solutions advanced 6.63 per cent on the BSE.

Adani stocks surged as Hindenburg Research closed operations, citing completed investigations, boosting optimism despite regulatory scrutiny.

The stock of Adani Enterprises soared 8.91%, Adani Ports climbed 6%, Ambuja Cements went up by 4.79%, ACC (4.50%), Sanghi Industries (4.22%) and Adani Wilmar (3%). All Adani group stocks had ended lower on Monday's trade in-line with weak trend in equities.

Adani Group stocks, including Adani Power, Adani Green Energy, Adani Enterprises, and Adani Ports, witnessed a notable rally on Thursday, January 16. This surge followed the announcement that US-based short-selling firm Hindenburg Research,

Hindenburg Research, which made international waves with campaigns targeting billionaire Gautam Adani that wiped billions from market value of his group companies, will disband, its founder Nate Anderson announced on Thursday.

Adani Power rose the most among all the other companies of the group by as much as 9.2% or close to ₹600 per share