Shares of Adani Group companies spiked up to 20 percent following a US agency's dismissal of fraud allegations made by Hindenburg Research. The International Development Finance Corp (DFC) reportedly conducted a due diligence investigation before granting Adani a $553-million loan for a Sri Lankan container terminal.
A senior US official deemed Hindenburg's accusations inconsequential. Adani Enterprises rose over 10 percent, Adani Green Energy gained up to 17 percent with additional funding news, and Adani Ports hit new 52-week highs. Adani Total Gas and Adani Power stocks surged 20 percent, and Adani Wilmar jumped over 10 percent. The market's positive response reflects renewed confidence after the fraud claims were debunked.