Shares of Adani Enterprises, the flagship company of the Adani Group, hit the lower circuit of 10%, closing at ₹2,538.20 on the BSE. The sharp decline comes after Gautam Adani, along with other executives, faced allegations of fraud and bribery in the United States.
Key Updates:
- Market Reaction: Adani Enterprises witnessed a sell-off as investors reacted negatively to the legal developments concerning the Adani Group.
- Group-Wide Impact: The allegations have triggered a broader sell-off across Adani stocks, raising concerns over governance and compliance issues.
Background:
The U.S. Department of Justice and SEC have charged Gautam Adani and other executives for allegedly engaging in bribery and misleading international investors.
Investor Advisory:
With market sentiment under pressure, traders and investors are advised to exercise caution while engaging in Adani stocks until further clarity emerges.
