All Adani Stocks Trade Higher After US DOJ Drops Charges Against Gautam Adani
Adani Group shares traded higher on Tuesday after the US DOJ permanently closed the criminal case against Gautam Adani and Sagar Adani, boosting investor sentiment across group companies.
Quick Summary
Adani Enterprise share price and other Adani Group stocks rallied on Tuesday after the US Department of Justice permanently dropped all criminal charges against Gautam Adani and Sagar Adani. Adani Green, NDTV, and Adani Total Gas emerged among the top gainers in early trade.
Adani Group Stocks Rally After Major US Legal Relief
Shares of Adani Group companies traded in the green on Tuesday after the US Department of Justice (DOJ) permanently dropped all criminal charges against Gautam Adani and his nephew Sagar Adani. The development brought a major securities and wire fraud case in New York to a close.
Adani Group Stocks Performance
The rally was visible across almost all listed Adani Group companies during morning trade.
|
Stock |
Latest Price |
Gain |
|
Adani Enterprises |
₹2,756 |
+2.46% |
|
Adani Green Energy |
₹1,437 |
+4.97% |
|
Adani Total Gas |
₹632 |
+3.64% |
|
NDTV |
₹82 |
+10.51% |
|
Adani Power |
₹220 |
+0.77% |
|
Adani Ports & SEZ |
₹1,793 |
+0.31% |
|
ACC |
₹1,368 |
+0.67% |
|
Ambuja Cements |
₹432 |
+0.62% |
As of 19 May, 10.20 AM
According to market data, NDTV emerged as the top gainer among group companies with gains of 10%, followed by Adani Green Energy and Adani Total Gas. Adani Enterprise share price also touched an intraday high of ₹2,774 during the session.
As of 19 May, 11.00 AM
Why Adani Stocks Are Rising
The sharp move in Adani stocks came after US prosecutors reportedly concluded that the allegations against Gautam Adani and Sagar Adani could not be sustained due to insufficient evidence and lack of clear US linkages.
US Department of Justice requested the court to dismiss the indictment “with prejudice,” which means the case cannot be reopened in the future. The court later approved the dismissal.
This marks a major relief for the Adani Group as the case had raised concerns over the conglomerate’s global business expansion and overseas fundraising plans.
What Was The Case About?
The SEC and DOJ cases, filed in late 2024, alleged that the Adani Group was involved in a $265 million bribery scheme linked to solar power contracts in India. Prosecutors had also accused the group of hiding details from US investors while raising funds.
However, court filings later showed that:
-
Gautam Adani agreed to pay $6 million
-
Sagar Adani agreed to pay $12 million
-
The settlement was done without admitting or denying wrongdoing
The filings also stated there were no investor losses and all bond obligations were honoured.
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Multiple US Investigations Closed
The latest development comes shortly after other regulatory matters involving the Adani Group were also resolved.
Key Updates
-
US Securities and Exchange Commission settled civil allegations related to investor disclosures tied to solar energy projects in India.
-
US Office of Foreign Assets Control (OFAC) settled allegations linked to LPG imports from Iran. As part of the settlement, the Adani Group agreed to pay $275 million to settle allegations raised by OFAC and also cooperated with investigators.
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Conclusion
The closure of US DOJ case has provided major relief to Adani Group and improved investor sentiment towards Adani stocks. The positive reaction was visible across the group’s listed companies, with Adani Enterprise share price and Adani Green Energy leading the gains. Investors will now closely watch how the group moves ahead with its expansion plans after the legal overhang in the US has eased.