Adani Group shares opened lower on Monday, with most stocks slipping up to 2% after a Wall Street Journal report suggested that US prosecutors were probing potential violations of sanctions involving Iranian LPG shipments through Adani-run Mundra Port. Shares of Adani Enterprises dropped 1.78%, Adani Ports fell 1.56%, and Adani Total Gas was down 0.83% as of 9:39 AM on June 3, 2025. In contrast, Adani Wilmar showed slight gains of 0.41%.
The WSJ reported that US authorities are examining whether shipments of Iranian petrochemical products reached India via LPG tankers docking at Adani Ports, potentially breaching US sanctions. The report claimed the Justice Department was reviewing cargo movements involving vessels linked to Adani Enterprises.
In response, the Adani Group issued a strong rebuttal, calling the report “baseless and mischievous.” The conglomerate clarified that it does not handle cargo from Iran at any of its ports and denied any awareness of an investigation. Adani emphasized that the article relies on “incorrect assumptions and speculation” and dismissed all claims as slanderous attempts to tarnish its image.
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