Adani stocks crash on U.S. action on alleged bribery and fraud

The logo of the Adani Group. | Photo Credit: Reuters

Stocks of Gautam Adani’s 7 listed companies connected the bourses crashed connected unfastened aft the New York Eastern territory tribunal indicted Gautam Adani, Sagar Adani, Vineet S. Jain and their associates and bribery and securities fraud connected Thursday (November 21, 2024).

Also work | U.S. tribunal issues apprehension warrant for Gautam Adani: report

Adani Energy Solutionns fell 20% to ₹687.5 apiece the astir connected Thursday’s open. Adani Enterprises crashed 10% opening astatine ₹2539.35 a stock connected Thursday. Adani Ports and Special Economic Zones crashed 10% to ₹1670 per stock. Adani Power Limited stocks fell nealry 11% to ₹467.4 apiece.

Adani Green Energy fell 16% to ₹1184.25 a stock and Adani Total Gas dipped 12% to ₹589.9 per share.

The pome to airports conglomerate’s FMCG banal Adani Wilmar excessively took a beating opening ₹310, 8% beneath erstwhile close.

Sensex, Nifty tumble successful aboriginal trade

Equity benchmark indices Sensex and Nifty tumbled successful aboriginal commercialized connected Thursday amid crisp autumn successful Adani radical stocks and unabated overseas money outflows. The BSE benchmark Sensex tumbled 468.17 points to 77,110.21 successful aboriginal trade. The NSE Nifty declined 179.75 points to 23,338.75.

From the 30-share Sensex pack, Adani Ports tumbled 10% arsenic billionaire Gautam Adani has been charged by U.S. prosecutors implicit his relation successful an alleged years-long strategy to wage $250 cardinal bribe to Indian officials successful speech for favourable presumption for star powerfulness contracts.

(With inputs from PTI)

Published - November 21, 2024 10:24 americium IST