New Delhi, Sept. 19 -- Adani Power share price surged 9% intraday on Friday, September 19, hitting a day's high of Rs.687 apiece, led by a host of positive developments.

Investor sentiment turned positive after market regulator Sebi dismissed allegations made by US short-seller Hindenburg Research against the Adani Group and its chairman, Gautam Adani. The ruling signalled a possible end to the group's prolonged regulatory troubles, lifting the overall mood around Adani stocks.

Alongside this positive sentiment, the company's 1:5 stock split has also kept the counter in focus.

Meanwhile, media reports also suggested that global brokerage Morgan Stanley initiated coverage on the Adani group stock, with an overweight rating. It set the A...