Adani Group shares under pressure; Adani Ent, Green, Energy slip up to 10%

Adani Green Energy stock slipped 10% to ₹814 in intra-day deal, while Adani Energy Solutions (₹840) and Adani Enterprises (₹1,895.50) were down 9% each.

Adani Group shares price today

 

Shares of Adani Group companies are under pressure falling by up to 10 per cent on the BSE in Friday’s intra-day trade amid heavy volumes.

 

Among individual stocks, Adani Green Energy slipped 10 per cent to ₹814 in intra-day deal, followed by Adani Energy Solutions (9 per cent to ₹840), Adani Enterprises (9 per cent to ₹1,895.50), Adani Total Gas (7 per cent at ₹510.70), Adani Power (8 per cent at ₹129.60), Adani Ports and Special Economic Zone (6 per cent at ₹1,332.50) and Ambuja Cements (5 per cent at ₹516.60). In comparison, the BSE Sensex was down 0.63 per cent at 81,790 at 01:27 PM.

 

 

Why Adani Group shares under pressure?

 

According to a Reuters report, the U.S. Securities and Exchange Commission (US SEC) has asked a U.S. court for permission to personally email summons to Indian billionaire Gautam Adani and group executive Sagar Adani over alleged fraud and a $265 million bribery scheme. India, the SEC said, has previously refused two requests to serve the summons.

 

Meanwhile, after failing to serve Gautam Adani with a legal summons for more than a year, the US SEC wants a judge to clear a way for the agency to advance with its fraud case against the Indian billionaire, Bloomberg reported.

 

The SEC asked US District Judge Nicholas Garaufis in Brooklyn, New York, on Wednesday to let it use alternative measures to ensure that Adani and his nephew Sagar Adani — who both reside in India — are formally made aware of the legal action against them. Generally, such litigation can’t proceed in the US until the defendants have been properly served with the complaint, the report suggested. CLICK HERE FOR FULL REPORT

 

Adani Enterprises in its FY25 annual report said that in November 2024, the Company became aware of an indictment filed by United States Department of Justice (US DOJ) and a civil complaint by US SEC in the United States District Court for the Eastern District of New York against an executive director of the Company. Since this matter does not pertain to the Company, there is no impact to this Standalone Financial Statements.

 

The allegations made by the US Department of Justice and the US SEC against directors of Adani Green are baseless and denied, Adani Group had said in media statement.

 

As stated by the US Department of Justice itself, "the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty." All possible legal recourse will be sought.

 

“The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws,” Adani Group spokesperson had said. CLICK HERE