Adani Ports saw a 2% rise in its share price after HSBC upped its target to ₹1,250 from ₹920, expressing confidence in the Supreme Court's ruling on Hindenburg's allegations.
The verdict's clarity is expected to boost Adani's expansion plans and operational performance, making it open to growth opportunities. The company aims to raise ₹5,000 crores through non-convertible debentures.
CEO Karan Adani is now the Managing Director, succeeding Gautam Adani, who becomes the 'Executive Chairman.' Ashwani Gupta is appointed as the new CEO. Adani Ports handled 35.65 MMT cargo in December, targeting over 400 MMT in FY24.