Business

Adani Group Market Capitalisation Surges ₹1.25 Lakh Crore After Bribery Charges Denied

The Adani Group’s market capitalisation jumped by ₹1.25 lakh crore on Wednesday. This followed a US Department of Justice (DoJ) statement clearing Adani officials of bribery charges. Investors rushed to buy Adani shares, pushing stock prices higher across its portfolio.

Adani Power and Adani Total Gas soared by 20%, closing at ₹525 and ₹695 per share. Meanwhile, Adani Enterprises gained 11.6%, closing at ₹2,399. Similarly, Adani Green Energy and Adani Energy Solutions surged 10%, ending at ₹988 and ₹660, respectively.

Sharp Gains in Market Capitalisation Across Portfolio

Adani Ports rose by 5.90%, and Adani Wilmar gained 8.31%. Additionally, Ambuja Cement and ACC saw increases of 4.51% and 4.05%, respectively. NDTV shares jumped by 9.26%. All Adani stocks opened in the green, indicating strong investor confidence.

The rally came after Adani Green Energy Limited (AGEL) filed a stock exchange statement. It clarified that media reports accusing Gautam Adani, Sagar Adani, and Vneet Jaain of bribery were false.

Filing Debunks Bribery Allegations

AGEL’s filing stressed that no Adani officials were charged under the US Foreign Corrupt Practices Act (FCPA). The statement confirmed that the indictment only mentioned Azure Power Global Ltd. and Canada’s CDPQ pension fund.

Senior lawyer and Rajya Sabha MP Mahesh Jethmalani and renowed lawyer Mukul Rohtgi also supported the clarification. They stated the indictment had no evidence against Adani officials or their companies.

This clarification sparked a strong recovery in Adani stocks, boosting market confidence and investor sentiment.

Also Read: Adani Group: Gautam Adani Faces Securities Fraud Charges, Not FCPA Violations

Ajaypal Choudhary

Recent Posts

India Set To Become Global Manufacturing Powerhouse: Mahindra CEO Anish Shah

Shah said, “The current geopolitical and economic landscape is challenging, with persistent headwinds across continents.…

45 mins ago

PM Modi’s Leadership To Shape Agenda, Says BRICS Chamber Chief

Prime Minister Modi will visit Brazil from 5 to 8 July to attend the 17th…

1 hour ago

Domestic Commercial Vehicle Sales To Grow 3–5% In FY26: ICRA

ICRA stated that resumption in construction and infrastructure activities, along with a steady economic environment,…

1 hour ago

Brazil Eyes India’s Akash Missile And Garuda Guns Ahead Of Modi’s BRICS Visit

Akash proved crucial during Operation Sindoor. It repelled drone and missile attacks from Pakistan and…

2 hours ago

PM Modi, Leaders Extend Heartfelt Birthday Wishes To Former Vice President M Venkaiah Naidu

Former Vice President M Venkaiah Naidu turned 76 on Tuesday, receiving warm wishes and praise…

4 hours ago

FM Nirmala Sitharaman Highlights Spiritual & Scientific Harmony During Ladakh Visit

Finance Minister Nirmala Sitharaman reflects on her recent visit to Ladakh under the Vibrant Villages…

5 hours ago