Most Adani stocks recover from Hindenburg-led mayhem, but worries persist

Shares of most Adani Group companies have rebounded in the June quarter after a tumultuous March quarter. Adani Enterprises saw a net gain of over 36% in the quarter, while Adani Power gained more than 30%. The recovery was driven by the group’s efforts to reduce debt, decrease pledged shares, and positive initial findings by a Supreme Court-appointed panel. However, concerns remain as SEBI continues to investigate the matter and US authorities are reportedly looking into investments in Adani stocks. GQG Partners expressed confidence in the group and made significant investments.

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