Adani Group Stocks Mostly Rise on Reports US May Drop Fraud Charges Against Gautam Adani

Mumbai, May 15:Shares of Adani Group companies climbed on Friday after reports suggested that U.S. authorities were moving closer to dropping criminal fraud charges against billionaire chairman Gautam Adani. 

The rally came after reports that the U.S. Department of Justice was likely to withdraw criminal charges linked to an alleged bribery scheme involving Indian solar energy contracts. At the same time, the U.S. Securities and Exchange Commission (SEC) settled a related civil fraud case, over an ‌alleged scheme to bribe Indian government officials, subject to court approval. 

Group Gains

Among the listed group companies, Adani Enterprises rose as much as 3% before paring gains, while Adani Green Energy, Adani Ports and Special Economic Zone, and Adani Energy Solutions also traded higher as investors welcomed the possibility of a resolution. Adani Power bucked the trend, edging 1% lower.

Adani Ports and Special Economic Zone led group gains rising 2.15% at Rs 1,811.60. Source: NSE

The original case, filed in late 2024, accused Gautam Adani and associates of orchestrating a bribery scheme involving more than $250 million to secure favourable solar power contracts in India while allegedly misleading U.S. investors during fundraising activities. The Adani Group had repeatedly denied the allegations, calling them baseless.

Major Positive

Only Adani Power stood out among group stocks, bucking the trend and edging down one percent at Rs 222.18. Source: NSE

The potential closure is being viewed by investors as a major positive for the conglomerate, which has spent the last two years rebuilding investor confidence after facing allegations from U.S.-based short seller Hindenburg Research in 2023 and subsequent regulatory scrutiny. Ending of legal uncertainty could improve the group’s access to international capital markets and support ongoing expansion plans across infrastructure, ports, airports, energy and green hydrogen businesses.

Adani Group companies had shown resilience in recent quarters despite heightened scrutiny, aided by strong operational performance, debt reduction efforts and continued backing from global investors.

However, volatility in Adani stocks could persist until there is official confirmation from U.S. authorities.

Source:

• https://www.nseindia.com/get-quote/equity/ADANIENT/Adani-Enterprises-Limited, https://www.nseindia.com/get-quote/equity/ADANIPOWER/Adani-Power-Limited 
• https://www.nseindia.com/get-quote/equity/ADANIPORTS/Adani-Ports-and-Special-Economic-Zone-Limited
• https://www.nseindia.com/get-quote/equity/ADANIENSOL/Adani-Energy-Solutions-Limited, https://www.nseindia.com/getquote/equity/ADANIGREEN/Adani-Green-Energy-Limited