BENGALURU, Jan 3 Reuters Shares of the Adani Group39;s listed companies rose between 2.2 and 10 on Wednesday, ahead of a ruling by India39;s top court on the country39;s market regulator39;s probe into the billionaire Gautam Adaniled conglomerate.

India39;s market regulator, the Securities and Exchange Board of India SEBI, is probing the group after U.S. shortseller Hindenburg, in January 2023, alleged improper use of tax havens, stock manipulation by the group.

The Adani Group has denied any wrongdoing. A Supreme Courtappointed panel had, in May, found no lapses at the Adani Group.

While the group39;s stocks have recovered some losses, they are still down 47 billion in market value since the report.

Shares of the group39;s flagship firm Adani Enterprises were up 6.4 in early trade on Wednesday.

Reporting by Nandan Mandayam in Bengaluru; Editing by Savio D39;Souza

Source Reuters