Shares of ACC Ltd, a key Adani Group company, dropped 9.61% on the BSE to close at ₹1,975.00 amid the ongoing fallout from allegations of fraud and bribery against Gautam Adani and others.
Highlights:
- Market Reaction: The stock witnessed heavy selling as investors reacted negatively to reports of alleged bribery involving the Adani Group.
- Sector Impact: The allegations have affected multiple Adani entities, including ACC, as concerns over governance and transparency loom large.
Broader Impact:
This decline comes as part of a broader sell-off in Adani Group stocks, which have seen sharp declines across various sectors, impacting the group’s overall market valuation.
Outlook:
Investors are advised to closely monitor developments as the group seeks to address these allegations. ACC’s fundamentals remain unaffected in the short term, but market sentiment will likely dictate its performance in the near future.
