After this, a strong rise was seen in all the ten shares of Adani’s companies. Supreme CourtComments on market regulator SEBI’s investigation into Adani Group increased investor interest in these shares significantly.
The collective market capitalization of all Adani Group shares rose by more than Rs 33,000 crore to Rs 11.6 lakh crore on Wednesday, the report said. Adani is the second richest Indian in the list, leaving behind Mukesh Ambani, whose net worth is estimated at $89.5 billion.
Adani-Hindenburg case: SC reserved the decision, said- no reason to defame SEBI
Earlier this year, Adani’s ranking had slipped from 25th place due to the results of the Hindenburg Research report. The Supreme Court’s comments on Friday indicate there is no reason to question the markets regulator’s investigation against the Adani Group.
The Supreme Court has said it has no grounds to question the actions of the market regulator and stressed that it need not take issue with it. The claims of the Hindenburg Report are absolutely true. The Supreme Court said it cannot ask a statutory regulator to treat media-published information as “divine truth”.
A bench headed by Chief Justice DY Chandrachud asked Sebi about its plan to protect investors from market volatility or short-selling. It highlighted that the court cannot independently constitute a Special Investigation Team (SIT) without sufficient evidence.
The Bloomberg Billionaires Index tracks the net worth of the world’s top 500 wealthiest individuals, with Elon Musk, Jeff Bezos and Bernard Arnault holding the top three spots. Along with Adani and Ambani, the list also includes 20 other Indians, including Shapoor Mistry, Shiv Nadar, Savitri Jindal, Azim Premji, Radhakishan Damani and Uday Kotak.
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