The focus is on the Adani Group, which received a clean chit from SEBI regarding allegations made by Hindenburg. SEBI dismissed charges of insider trading and market manipulation against the group. This news prompted a rally in Adani Group stocks, with Adani Enterprises and Adani Power seeing significant gains. An analyst provided a bullish outlook on Adani Power, stating, "a four digit is possible for the next two to three years," citing government focus on power generation and capacity expansion. The broader market opened flat, with the Nifty showing little movement. Other newsmakers included Maruti Suzuki, which cut vehicle prices following a GST rate slash, and L&T Finance, which has been a strong performer year-to-date, benefiting from robust demand for loans and expansion plans.
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