the DFC was satisfied that the allegations weren’t appli- cable to Adani Ports & Special Economic Zone, which is spearheading the Sri Lankan project. Shares of Adani Ports rose 15 per cent to ~1,012 apiece during the day. The stock is already 33 per cent higher than levels seen before the Hindenburg report. The sell-off in Adani stocks troughed by the end of February, ahead of a ~15,500 crore share purchase by US- based investment firm GQG Partners from Adani group promoters. GQG, led by Rajiv Jain, has acquired stakes in five Adani group firms for about $4.2 billion – the value of which has now increased by over 75 per cent to nearly $7.5 billion. From a low of ~6.8 trillion, the Adani group’s market cap has more than doubled but is still ~5.3 trillion below the January 24 levels. The majority of the recov- ery in market value has occurred in the past week. Last week, the Adani group’s market cap surged by ~1 tril- lion after the Supreme Court concluded hearings in a regu- latory probe investigating the American short seller’s allega- tions. While reserving its order on the probe, the apex court stated it would not take media reports on the conglomerate as the “gospel truth”. On Monday, the value of the 11 listed stocks had increased by ~73,000 crore, a day after the Bharatiya Janata Party (BJP) swept polls in three states.