Adani Group shares surged with Adani Power leading at Rs 599.90 following the closure announcement of US investment firm Hindenburg Research. Hindenbu

The markets, especially the Adani Group company shares, have woken up to some interesting developments on Thursday, January 16. Earlier in the day, Hindenburg Research, a US-based short-selling activist group has announced its disbandment.

Hindenburg Research, the US-based short-selling firm that gained global attention for its report on the Adani Group, is set to cease operations, according to a statement by its founder, Nate Anderson,

Hindenburg Research, a US investment research firm known for short-selling, and whose reports resulted in wiping out billions of dollars of Indian billionaire Gautam Adani and his companies, has been shut down,

Hindenburg Research published reports against Indian conglomerate The short-seller accused Adani Group of using offshore tax havens improperly, which the company denied.

Hindenburg Research's founder Nathan Anderson announced he will disband the firm due to the intense nature of the work.