• Adani Group stocks rose by up to 10% after Hindenburg Research announced its closure.
• Hindenburg's previous reports led to significant financial losses for Adani, but the group has now regained its footing.
• CFO of Adani Group shared a cryptic social media post in response to the news of Hindenburg shutting down.
• Market capitalization of Adani Group increased by approximately Rs 28,000 crore amid this positive sentiment.
• Hindenburg's founder cited personal reasons for disbanding the firm, with no direct threats or health issues mentioned.

Shares of the Adani Group experienced a significant rally of up to 10% on Thursday, January 16, following the announcement by Hindenburg Research that it would cease operations. Notable stock increases included Adani Power, which climbed 9.21%, while Adani Green Energy and Adani Enterprises rose 8.86% and 7.72%, respectively. The market response followed a turbulent period for the Adani conglomerate, precipitated by a damaging report from Hindenburg that accused the group of corporate malfeasance, including stock manipulation and inaccurate financial reporting. This report had led to a precipitous decline in Adani’s market value by over $140 billion by early 2023, but the group has since managed to recover much of its previous losses.

In a notable reaction to Hindenburg's closure, Adani Group Chief Financial Officer, Jugeshinder Robbie Singh, took to social media platform X (formerly Twitter) to post, “Kitne Ghazi Aaye, Kitne Ghazi Gaye,” suggesting a sense of irony regarding Hindenburg Research's disbandment. The group's share prices continued to reflect positive sentiment in the market, further buoyed by reports of a temporary ceasefire in the Israel-Hamas war, which is anticipated to ease uncertainties for the group’s port operations in Israel.

As a result, the combined market capitalization of Adani Group soared by approximately Rs 28,000 crore, reaching Rs 12.9 lakh crore on that day. However, it still remains significantly lower than its peak market value of Rs 19.2 lakh crore recorded in January 2023. The market's optimism reflected not only the closure of Hindenburg but also a broader recovery from earlier turmoil experienced by the Adani Group.

For additional insights and details of Hindenburg Research's disbandment, you can read more from India Times. In related news, a further analysis of stock developments can be found in this report from India Times.