Shares of Adani Energy Solution surged 27.50% this week, closing at ₹840.50 on November 29, 2024. The stock showed strong momentum midweek, gaining 10% on both November 27 and November 28, and a further 15.64% on the last trading day of the week.
The sharp recovery in Adani Energy Solution and other Adani Group stocks came after the group clarified allegations of bribery charges against its executives. The group firmly denied any wrongdoing, stating that no charges were made under the US Foreign Corrupt Practices Act (FCPA) and rejected allegations of securities fraud or wire fraud. The Adani Group reiterated its commitment to pursuing all legal remedies, which restored investor confidence and led to sharp gains across its listed entities.
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