By Anubhav Maurya

Copyright republicworld

Adani Power Share Price: Shares of Adani Power experienced high market activity on September 22 as the company’s stock became ex-split. At first glance, it appeared that the stock had crashed by nearly 80 per cent in a single session.However, this was only a result of the price adjustment following the 1:5 stock split announced earlier by the company’s board. In reality, Adani Power’s share price jumped nearly 20 per cent, touching a new 52-week high of Rs 170.15 apiece.In August, the board of directors of Adani Power had approved its first-ever stock split in the ratio of 1:5. The record date for determining eligible shareholders was fixed as September 22.Under this split, each share with a face value of Rs 10 was divided into five shares of Rs 2 each. This move increased the number of shares while reducing the price per share, thereby making them more affordable for investors.For example, if a shareholder earlier held 10 shares worth Rs 100 each, after the split, they now hold 50 shares worth Rs 20 each. The overall value of their holding remains the same at Rs 1,000.This kind of corporate action is mainly intended to enhance liquidity and encourage greater participation from retail investors, which can create upside potential for the stock.The strong rally in Adani Power was also supported by positive sentiment across Adani group stocks after the Securities and Exchange Board of India (Sebi) cleared the group of stock manipulation allegations raised by US short-seller Hindenburg Research in January 2023.On Friday, Adani Power shares surged 12.40 per cent, leading the rally among group companies. Adani Total Gas gained 7.35 per cent, Adani Green Energy rose 5.33 per cent, Adani Enterprises advanced 5.04 per cent, and Adani Energy Solutions added 4.70 per cent.Other group firms such as Sanghi Industries, ACC, Adani Ports, and Ambuja Cements also ended higher. Together, the market capitalisation of all Adani group firms stood at an impressive Rs 13.96 lakh crore by the end of the day.In two detailed orders, Sebi stated that the alleged fund transfers between Adani entities and other companies were in fact loans that had been repaid with interest before the investigation began.These transactions did not qualify as related-party deals and therefore did not violate disclosure norms.The regulator also found no evidence of insider trading, market manipulation, or any breach of public shareholding rules.Reacting to the clean chit, billionaire Gautam Adani called for an apology from those who had amplified Hindenburg’s “fraudulent and motivated” report.In a post on X, he said the order reaffirmed what the group had maintained all along — that the allegations were baseless.