Gautam Adani, Chairman of Adani Group, has issued a letter to shareholders of Adani Total Gas Limited , addressing the aftermath of the Hindenburg report and celebrating recent regulatory clearance. The letter marks a significant moment for the conglomerate following a period of intense scrutiny.

SEBI Dismissal and Validation

Adani emphasized that the Securities and Exchange Board of India (SEBI) has dismissed the allegations against the group, calling it a "powerful validation of the transparency, governance and purpose" with which the company has operated. This regulatory clearance comes after a challenging period that began when Hindenburg's report sparked controversy and market turbulence.

Financial Performance and Growth

Despite the challenges, Adani highlighted the group's robust financial performance:

The group's portfolio EBITDA grew at a compound annual growth rate (CAGR) of 25% over two years, while the gross block expanded by nearly ₹2 lakh crores.

Key Infrastructure Achievements

Adani outlined several transformative projects completed during this period:

• Commissioning of India's first container transshipment port at Vizhinjam
• Addition of 6 GW of renewable capacity, including the world's largest single-location renewable project at Khavda
• Launching of the world's largest copper smelter and metallurgical complex
• Expansion of the energy network with 7,000 circuit kms of transmission lines and 4 GW of new thermal capacity

Future Commitments

Looking ahead, Adani promised to:

1. Further strengthen governance standards
2. Accelerate innovation and sustainability efforts
3. Continue investing in infrastructure to support India's long-term growth

Shareholder Appreciation and Closing Remarks

Adani expressed gratitude to shareholders, lenders, suppliers, and partners for their support during the challenging period. He concluded with a quote from Shri Sohan Lal Dwivedi, emphasizing resilience and determination in the face of adversity.

Market Movement Clarification

In a separate filing, Adani Total Gas Limited responded to a query from BSE Limited regarding share price movement. The company clarified that the price movements were purely market-driven and that management had no control or knowledge of the reasons behind these fluctuations. The company reaffirmed its commitment to making all relevant disclosures in compliance with SEBI regulations.

As Adani Group moves forward from this regulatory clearance, the focus remains on strengthening its position in India's infrastructure landscape and continuing its ambitious growth trajectory.

Adani Total Gas , a key player in the Adani Group, experienced a notable shift in its stock performance on Tuesday, following a significant rally in the previous session. The company's shares saw a 5% decline, touching an intraday low of Rs 741.35 on the Bombay Stock Exchange (BSE).

Market Dynamics

The recent movement in Adani Total Gas shares comes on the heels of a sharp 19% gain observed in the previous trading session. This surge was part of a broader rally across the Adani Group companies, which collectively added Rs 1.70 lakh crore to the group's market capitalization over two consecutive trading days.

Regulatory Developments

The Adani Group's recent stock market performance has been influenced by regulatory developments. The Securities and Exchange Board of India (SEBI) reportedly gave a clean chit to Gautam Adani in the Hindenburg case, which appears to have boosted investor confidence in the group's stocks.

BSE Seeks Clarification

In response to the unusual volume and price movement, the BSE sought clarification from Adani Total Gas. The company addressed these concerns in a formal communication to the stock exchange.

Company's Response

Adani Total Gas stated in its response to the BSE:

"The movement in the share volume / price of the company is purely due to market conditions and absolutely market driven. The management of the Company neither has any control nor has any knowledge of the reasons for the movement in volume / price of shares."

The company further assured its commitment to transparency, stating:

"The Company has made and will continue to make all the relevant disclosures in compliance with our obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time and our agreements with the stock exchanges including all the events, information etc that have a bearing on the operation/performance of the company which include all price sensitive information etc."

Investor Behavior

The 5% decline in Adani Total Gas shares on Tuesday suggests that some investors may be booking profits following the recent sharp gains. This profit-taking behavior is not uncommon after significant price increases, as investors seek to lock in their gains.

As the market continues to digest recent developments and regulatory updates, investors will likely keep a close eye on Adani Group stocks, including Adani Total Gas, for potential further movements.