Adani group stocks rallied on Thursday after Hindenburg Research, which made international waves with campaigns targeting billionaire Gautam Adani that wiped billions from market value of his group companies,

Hindenburg Research published reports against Indian conglomerate The short-seller accused Adani Group of using offshore tax havens improperly, which the company denied.

US-based short-seller’s founder Nate Anderson announced that the company would be disbanded after the team finished the pipeline of ideas they were working on

Adani Group stocks surged today as Hindenburg Research, the short-selling firm infamous for its critical reports, announced its immediate closure. Hindenburg’s founder, Nate Anderson, cited the completion of their “pipeline of ideas” as the reason for the firm’s shutdown.

Hindenburg Research, storied for its short-selling reports, is winding up its business. The firm, which gained traction for rattling the Adani Group in 2023, was pursuing probes against some of the biggest corporate moguls worldwide.

Adani Group stocks, including Adani Power, Adani Green Energy, Adani Enterprises, and Adani Ports, witnessed a notable rally on Thursday, January 16. This surge followed the announcement that US-based short-selling firm Hindenburg Research,

Adani Power rose the most among all the other companies of the group by as much as 9.2% or close to ₹600 per share

Hindenburg Research, the US-based short-selling firm that gained global attention for its report on the Adani Group, is set to cease operations, according to a statement by its founder, Nate Anderson,