Shares of Adani Total Gas experienced a sharp rise of 31.23% this week, closing at ₹812.35 on November 29, 2024. The stock witnessed significant momentum on November 27 and November 28, gaining 19.78% and 15.82%, respectively.
The rally in Adani Group stocks followed the company’s clarification regarding allegations of bribery charges against its executives. The group stated that no charges have been made against Gautam Adani or other executives under the US Foreign Corrupt Practices Act (FCPA). Additionally, the group has denied allegations of securities fraud, wire fraud, and any wrongdoing, emphasizing that the claims are baseless and that they will pursue all legal recourse.
This statement boosted investor confidence, pushing shares of Adani Total Gas and other listed group companies higher during the week.
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