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.

Adani Group shares surged with Adani Power leading at Rs 599.90 following the closure announcement of US investment firm Hindenburg Research. Hindenbu

Shares of Adani Power surged 9.21 per cent, Adani Green Energy soared 8.86 per cent and Adani Enterprises climbed 7.72 per cent.

Hindenburg Research, the short seller that had targeted several business groups in the past, is going to be disbanded, its founder Nate Anderson has said.

Adani Group shares surge as Hindenburg Research founder disbands entity, amid accusations of governance violations.

Adani group stocks rallied on Thursday after Hindenburg Research, which had launched a campaign against the group, announced its closure. Adani Power surged over 9%, Adani Green Energy gained 8.86%, and Adani Enterprises climbed 7.

Hindenburg Research, a US investment research firm known for short-selling, and whose reports resulted in wiping out billions of dollars of Indian billionaire Gautam Adani and his companies, has been shut down,

Hindenburg Research's founder Nathan Anderson announced he will disband the firm due to the intense nature of the work.