Shares of Adani group companies, including Adani Energy Solutions, Adani Green Energy, Adani Power, and Adani Total Gas, saw significant gains, climbing up to 8% in a continuation of their recent recovery. The surge follows the group’s clarification regarding the US bribery case, affirming that no charges were filed against key executives.

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• Adani Group stocks, including Adani Energy Solutions, Adani Green Energy, Adani Power, and Adani Total Gas, saw gains up to 8%.
• Adani Energy Solutions rose by 6.55% to Rs 704.55, while Adani Green Energy climbed 5.51% to Rs 1,043.85.
• Adani Total Gas surged 8.82% to Rs 752.70, while Adani Power rose 5.15% to Rs 550.75.
• The recovery followed the Adani Group’s clarification regarding the US bribery case.
• The group stated that no bribery charges were filed against Gautam Adani, Sagar Adani, or Vneet Jaain.
• The charges mentioned in the US DOJ indictment only involved officials from Azure and CDPQ, not Adani executives.
• GQG Partners reaffirmed its trust in the group, maintaining its $9.7 billion stake despite the allegations.
• Moody’s reaffirmed Adani Green Energy’s rating to BA1, though its outlook was revised to negative from stable.
• S&P Global Ratings had previously warned that the bribery allegations could impact the group’s ability to secure funding.
• Adani Group’s clarification helped ease concerns, with stock prices continuing to recover from earlier volatility.