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SEBI Dismisses Hindenburg Allegations Against Adani Group
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SEBI clears Adani of wrongdoing per Hindenburg report; Adani stocks rally on the decision.
India's markets regulator SEBI has cleared several allegations by Hindenburg Research against the Adani Group, ruling that transactions flagged in the report did not breach disclosure laws or amount to market manipulation. Stocks like Adani Total Gas, Adani Power, and Adani Enterprises saw gains following the ruling, with Power up ~8.4%. Many analysts believe this decision could restore investor confidence in the group. Some shares though remain below their pre-report levels.