Shares of Adani Group companies plunged into lower circuit limits during the pre-open session on Thursday, following allegations against Gautam Adani and seven others in a multibillion-dollar bribery and fraud scheme in the United States.
Key Highlights:
- Adani Group head Gautam Adani and others have been accused of bribing Indian officials to secure solar energy contracts.
- The allegations surfaced on November 21, as per reports from Reuters and Bloomberg.
- Prosecutors in the U.S. announced charges against the group, alleging corruption in securing these deals.
Stock Performance:
| Scrip | BSE Price | % Change | NSE Price | % Change |
|---|---|---|---|---|
| ACC | ₹1,966.55 | -10.00% | ₹1,986.00 | -9.14% |
| Adani Energy Solutions | ₹697.70 | -20.00% | ₹697.25 | -20.00% |
| Adani Enterprises | ₹2,538.20 | -10.00% | ₹2,539.35 | -10.00% |
| Adani Green Energy | ₹1,160.00 | -17.83% | ₹1,160.00 | -17.89% |
| Adani Ports & SEZ | ₹1,160.15 | -10.00% | ₹1,160.70 | -10.00% |
| Adani Power | ₹450.00 | -14.14% | ₹439.95 | -16.06% |
| Adani Total Gas | ₹537.80 | -20.00% | ₹555.00 | -17.38% |
| Adani Wilmar | ₹294.40 | -10.00% | ₹302.00 | -7.83% |
| Ambuja Cement | ₹494.65 | -10.00% | ₹494.60 | -10.00% |
This significant decline comes amidst heightened scrutiny of the Adani Group, with the charges creating ripples across the stock market. The fallout has raised concerns about the potential impact on the group’s business operations and investor sentiment.
