Mark Mobius Gives A Thumbs Up To Adani Group After SEBI Clean Chit
"India is going to grow strength to strength. Adani Group companies will drive this growth," Mark Mobius said.
Veteran investor Mark Mobius said India needs more infrastructure companies like the Adani Group and the conglomerate's recovery after SEBI'c clean chit in the Hindenburg case will continue.
Adani Group stocks added nearly $20 billion in market value in just two sessions after the market regulator dismissed Hindenburg Research's allegations against the group and its billionaire founder Gautam Adani.
"The recovery in the Adani Group will continue. India needs more infra companies like Adani," Mobius told NDTV Profit, stressing that is optimistic about the conglomerate's strong outlook.
"India is going to grow strength to strength. Adani Group companies will drive this growth," he said. Mobius is a well-known India bull.
The founder of Mobius Capital Partners LLP said that investors who would have done proper research would've known that all Hindenburg accusations were baseless.
Moreover, he said the Securities and Exchange Board of India is ushering in more transparency and strengthening institutional frameworks.
"Regulators should insist on corporate transparency and disclosures. SEBI is becoming friendly with the private sector," he said.
The SEBI verdict has removed a major regulatory overhang for the conglomerate, which has faced turbulence since Hindenburg's January 2023 report accusing it of accounting fraud and stock manipulation.
The short-seller's charges, in 2023, triggered a market crash that erased over $100 billion in value at its peak and sparked both regulatory probes and political controversy. However, the stock began recovering soon after.
Meanwhile, global investor interest is returning. Last week, Jefferies’ Chris Wood announced he had sold shares of Reliance Industries to buy Ambuja Cements for his India long-only portfolio, which already includes Adani Ports. For Adani Power, Morgan Stanley projected capacity to grow nearly 2.5x from 18.15 GW in FY25 to 41.9 GW by FY32, raising its coal-based market share from 8% to 15%.
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