Stocks of 6 Adani Group settle lower; Adani Total declines nearly 5%

Shares of six Adani Group firms ended lower on Monday, with Adani Total Gas falling nearly 5 per cent.

The stock of Adani Total Gas dropped 4.87 per cent to Rs 772 on the BSE and Adani Energy Solutions tanked 4.04 per cent to Rs 806.60.

Shares of NDTV dipped 1.29 per cent, Adani Wilmar went lower by 1.23 per cent, Adani Power declined 1 per cent and Adani Enterprises skidded 0.28 per cent.

During morning trade, Adani Green Energy jumped 9 per cent after Adani Group Chairman Gautam Adani said his conglomerate was committed to compliances and "every attack makes us stronger" amid recent allegations and his indictment in the US.

The stock of Adani Green Energy Ltd surged to Rs 1,445 during the morning trade but later gave up most of the early gains and ended at Rs 1,327.95, up 0.26 per cent.

Shares of Adani Ports climbed 2.18 per cent, Ambuja Cements went up 1.34 per cent, Sanghi Industries (0.65 per cent), and ACC (0.38 per cent).

Coming out in public for the first time after recent allegations and his indictment in the US, Adani Group Chairman Gautam Adani on Saturday said his conglomerate was committed to compliances and "every attack makes us stronger".

"Less than two week back, we faced a set of allegations from the US about compliance practices. This is not the first time we have faced such challenges. What I can tell you is that every attack makes us stronger," he said addressing the 51st Gems and Jewellery Award in Jaipur.

On November 20, 2024, the United States Department of Justice and the US Securities and Exchange Commission (SEC) issued an indictment and a civil complaint in the New York district court against Gautam Adani, Sagar Adani and Vneet Jaain, key functionaries of Adani Green Energy Ltd (AGEL).

AGEL is at the heart of allegations of $ 265 million bribes allegedly being paid to Indian officials to secure solar power sale contracts that could bring in $ 2 billion of profits over a 20-year period to the firm.

The Adani Group last week denied all allegations as baseless and said it would seek legal recourse to defend itself.