Adani Ports and SEZ Limited (APSEZ) became the first company from the Adani Group’s 10-stock portfolio to return to the ‘pre-Hindenburg levels.’ The APSEZ stock touched an intra-day high of ₹795.65 on Tuesday, higher than the closing of ₹761.2 on January 24, 2023, quoted a day before the stock’s free fall.

After January 25, the Nifty-50 stock APSEZ along with all other Adani Group stocks had lost heavily after the US-based shortseller Hindenburg Research released a damning report about the group questioning its financial and corporate governance practices.

On Tuesday, APSEZ stocks gained by over 8 per cent before cooling off to trade with modest gains of 1 per cent on NSE. The investors’ confidence was seen returning to the counter after the findings of the Supreme Court-appointed committee gave a clean chit to the regulatory aspect on the allegations of price manipulations by Adani Group. APSEZ traded with volumes of over 3.4 million shares.

Also read: Adani Group surpasses ₹10 lakh crore market cap after clearing Hindenburg allegations

Other Adani Group stocks: Adani Power, Adani Transmission, Adani Total Gas and Adani Green Energy were locked at upper circuit of 5 per cent while Adani Wilmar was locked at 9.99 per cent upper circuit with only buyers on the counters.

Flagship Adani Enterprises Limited gained by 15.7 per cent to trade at ₹2,692.10 at 2.50 pm on NSE. Ambuja Cements and ACC were up 1.71 per cent and 0.67 per cent respectively. The group’s media enterprise NDTV also hit the upper circuit at 4.97 per cent.

Notably, several analysts and brokerages have given a ‘BUY’ rating to the Adani Group stocks further strengthening investor confidence.

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