New Delhi, May 22 -- Global brokerage firm Bernstein has said the Adani Group has emerged stronger after facing the short-seller episode in 2023 and later developments linked to the US Securities and Exchange Commission (SEC) and Department of Justice (DOJ).

In its latest report, Bernstein stated that while the group faced two major events over the past four years, its operational execution and infrastructure expansion capabilities remained intact throughout the period.

It stated "the group's leverage, share-pledges, earnings and relative valuations have evolved since the first event".

The report noted that the first major challenge was the short-seller report released in January 2023, which triggered concerns around leverage, promoter...