"On February 26, amidst a generally weak market, the stocks of Adani Group experienced an increase. Adani Enterprises Ltd, Adani Green Energy, Adani Ports and Special Economic Zone, and Ambuja Cements reached their highest levels in the past 52 weeks on Monday.
Adani Energy Solutions shares rose by over 9 percent, closing at Rs 1,180 for the day. Other Adani stocks, including Adani Green Energy Ltd, Adani Wilmar Ltd, Adani Power Ltd, and Adani Total Gas Ltd, closed 2-5% higher.
While the Sensex closed 0.5% lower at 72,790.13 and Nifty 50 dropped 0.4%, Adani Enterprises and Adani Ports and Special Economic Zone, both Nifty 50 companies, gained 8.6% and 11.6% respectively in the last month.
As Adani stocks continue to recover from allegations of stock-price manipulation and accounting fraud by short-seller Hindenburg Research, GQG Partners LLC’s stake in Adani Group companies has increased approximately fivefold. Initially investing $1.9 billion in Adani stocks, GQG Partners has raised its investment to $10 billion, as reported by fund manager Sudarshan Murthy."