Adani Group Stocks Surge as Us Court Admits Plea Against Fraud Case

Mumbai, April 8:Adani group stocks surged in Wednesday’s trade, rallying up to 13 percent after a key legal development in the United States boosted investor sentiment and triggered broad-based buying across the conglomerate’s listed entities.

The rally came after a US court accepted a plea filed by lawyers representing Gautam Adani and his nephew Sagar Adani seeking a pre-motion conference to dismiss a civil securities fraud case brought by the US Securities and Exchange Commission (SEC).

Following this development, all Adani Group stocks traded in the green, with several counters posting strong gains during the session. The surge also coincided with a rebound in the broader Indian equity markets, further amplifying the upside momentum.

Adani Green Energy and Adani Total Gas led the rally among the group, with a 13% rise each. Meanwhile, the flagship Adani Enterprises shares gained 11%. Both Ambuja Cement and Adani Energy hit the 10% upper circuits, while Adani Ports, Adani Power, and ACC gained 6-8%. Media stock NDTV gained 12% today.

Adani Green Energy closed around 12% higher today at Rs 1,035.00 and Adani Total Gas ended up about 7% higher at Rs 557. Adani Enterprises closed 8% higher at Rs 2,044.90.

The legal case dates back to November 2024, when the SEC accused Gautam Adani and Sagar Adani of being involved in an alleged bribery scheme linked to Adani Green Energy. The regulator claimed that the alleged payments to Indian state officials were not disclosed to investors during a $750 million bond offering in 2021, thereby violating US securities laws.

In response, the Adanis have denied the allegations and are now seeking dismissal of the case.

Markets reacted positively to the latest development, interpreting the court’s acceptance of the plea as an early procedural win. The move helped ease some of the regulatory overhang that had weighed on Adani stocks in recent months.

The rally added significant market capitalisation to the group, with key stocks such as Adani Enterprises, Adani Ports and Special Economic Zone and Adani Green Energy seeing strong buying interest.

Analysts said the legal clarity, even at a preliminary stage, was enough to trigger a sentiment-driven rally, especially given the group’s sensitivity to regulatory headlines. The broader market optimism also played a supporting role, as risk appetite improved across sectors.

Going ahead, investors are likely to closely track further developments in the US case, particularly the court’s response to the dismissal plea later this month, which could determine the next leg of movement in Adani Group stocks.

Source: NSE