India Probe Finds No Sign Yet of Regulatory Failure on Adani
- Court panel’s interim report is a relief for Adani Group, SEBI
- Court also asked SEBI to probe Hindenburg claims against Adani
Adani Group headquarters in Ahmedabad, India.
Photographer: Prakash Singh/BloombergThis article is for subscribers only.
A committee appointed by India’s top court said that it doesn’t see any regulatory failure or signs of price manipulation in the rise and fall of the Adani Group’s stocks, in an interim report that’s a reprieve for the embattled conglomerate.
All 10 Adani Group stocks rose in Mumbai trading on Friday after the six-member panel’s report was made public, with flagship firm Adani Enterprises Ltd. and Adani Ports and Special Economic Zone Ltd. recovering the day’s losses to close around 3.5% up.