📈 Is Adani back in the game? 📈
🤑 Gautam Adani had a great 2 weeks. In the last 2 weeks, Adani Group gained more than 40% in market cap, and Gautam Adani’s networth crossed the $80 billion mark. Adani Group stocks recovered much of the lost ground due to the Hindenburg report.
🔥 What’s the big news:
1️⃣ Supreme Court observed that the Hindenburg Report is not the single source of truth and there is no reason to doubt the SEBI report. Supreme Court has reserved the verdict of the Adani case.
2️⃣ In the state elections, which was expected to be a close battle, BJP swept 3 states. This is an indication of what the market can expect in the 2024 General elections.
3️⃣ US Government cleared Adani’s name and they found the Hindenburg’s allegations irrelevant.
🔙 With things back in the good, Adani is back on its expansion spree. Adani Group refinanced its debt to acquire Ambuja and ACC. Adani Group also got a new $1.4 billion loan for its renewable energy business. However, as the Adani stocks made a rapid rise, we can expect a profit booking in the coming sessions.
#gautamadani #adani #adanigroup #adanipower #adaniports #adanienterprises #adaniwilmar #adanigreenenergy
