The Adani Group went through a volatile period after the Hindenburg report came out earlier this year. But one stock that has been relatively resilient through all this is Adani Ports. The stock is now back to the levels it was trading at before the Hindenburg report came out.

The Investment: On Feb. 24 — a month after US-based Hindenburg Research accused Gautam Adani of “pulling the largest con in corporate history” — if you took a leap of faith and invested ₹10,000 in Adani Ports, you would have bought around 17 shares. Today, those 17 shares would have been worth around ₹13,489. An around 35% return on your initial investment.

See Also: Why This Analyst Sees Adani Ports Shares Going Up 22%

Background: In 2023, the Adani Group experienced a turbulent year marked by allegations of financial misconduct made by Hindenburg Research, a US-based company. Hindenburg Research’s report levelled several serious accusations against the conglomerate, including claims of manipulating stocks, excessive leveraging, and engaging in accounting fraud. Despite these serious charges, Adani Ports and other group stocks have made a considerable recovery.

Adani Ports has been a strong performer among all the Group stocks. The stock did slump around 48% after the report hit to a 52-week low of ₹395.10, but recovered strongly and is now trading around the same levels as before the Hindenburg report came out.

Adani Ports' quarterly consolidated revenue was at ₹5,797 crore in the March quarter, up 40% from the previous year. However, its net profit grew only 3% to ₹1,141 crore for the quarter – lower than street estimates of ₹1,842 crore. The company also declared a ₹5/share dividend.

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Disclaimer: Benzinga India doesn't give financial advice. The above article is for educational purposes alone.