Adani group shares rise after Adani Enterprises fund raise bid, Mauritius minister's rebuttal to Hindenburg allegations

Adani Hindenburg saga: After Mauritius Financial Services Minister Mahen Kumar Seeruttun refuting the allegations labelled by the Hindenburg Research report about the shell companies operating in the island nation, Adani groups shares witnessed sharp upside movement during morning deals on Thursday.

All 10 Adani group share price surged in the opening bell whereas Adani Enterprises share price gained maximum buy adding to the tune of 4 per cent within few minutes of market opening. 

Adani Ports share price ascended over one per cent while Adani Wilmar share price gained around 1.50 per cent.

On Wednesday, Mauritius Financial Services Minister Mahen Kumar Seeruttun refuted all allegations labelled by the US-based short seller Hindenburg Research on shell companies operating from the island nation. 

The financial minister of Mauritius said in the parliament that Hindenburg Research's allegations of the presence of 'shell' companies in the Island nation are 'false and baseless' and that Mauritius was in compliance with OECD-mandated tax rules.