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Adani Power's share price increased by 2.45%

The stock's 52-week high price was Rs. 432.8, with 835,117 shares traded on the counter. Its price-to-book value was 2.47, its EPS value was 27.81, and its price-to-earnings ratio was 8.98. 29 stocks in the Nifty50 pack moved in the green, demonstrating the lack of merit to the controversies surrounding the Adani shares overleveraged.<br><br>

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Adani Power's share price increased by 2.45%

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  1. Adani Power's share price increased by 2.45%

  2. Introduction The stock's 52-week high price was Rs. 432.8, with 835,117 shares traded on the counter. Its price-to-book value was 2.47, its EPS value was 27.81, and its price-to-earnings ratio was 8.98. 29 stocks in the Nifty50 pack moved in the green, demonstrating the lack of merit to the controversies surrounding the Adani shares overleveraged.

  3. The Supreme Court further declared that accepting the reports from the Organised Crime and Corruption Reporting Project or Hindenburg was not credible. The Securities and Exchange Board of India (S.E.B.I.) did not provide any evidence against the Group, nor did it request an extension for its investigation. The bench, which included Justices JB Pardiwala, Manoj Misra, and Chief Justice of India D Y Chandrachud, also noted that there was no method for determining the accuracy of the Hindenburg report.

  4. On 28th November 2023, all 10 Adani Group's listed companies celebrated the Supreme Court's ruling that the Hindenburg and OCCRP reports were not "credible." Furthermore, the Securities and Exchange Board of India (S.E.B.I.) did not charge the Adani Group. As of 9:30 am, Adani Total Gas and Adani Energy Solutions had increased by 14% and 11.9%, respectively. 05

  5. A six-member expert committee was established to look into the matter The court also appointed a six-person expert committee to look into the Adani shares overleveraged controversy. Proof that the Adani Group is breaking current market laws has not been discovered. In response to the steep decline in the value of listed Adani Group companies' shares following the report published on 24th January 2023 by U.S. short-seller Hindenburg Research, the Supreme Court has established an expert committee to examine the current framework of the stock market's regulatory mechanism.

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