Adani group stocks recover sharply; Adani Enterprises up 10%
The Hindu
Adani group stocks rebounded strongly on Wednesday, with Adani Green Energy leading the way with a 10% increase.
After getting beaten down on Tuesday, all Adani group stocks recovered sharply on Wednesday (November 27, 2024), with Adani Green Energy Ltd. seeing the first uptick in share price since the U.S. Court indictment of the firm and its senior employees on bribery and securities fraud charges came to light on November 21, rising 10% as of 1330 hours on the Bombay Stock Exchange.
The group flagship Adani Enterprises was also up 10%, after a 4.8% decline on Tuesday (November 26, 204). Adani Energy Solutions Ltd was 10% higher as well.
Also read: Former Attorney General Mukul Rohatgi says no bribery charges against Gautam Adani, nephew in U.S. indictment
Adani Wilmar had risen 7.3% so far on Wednesday (November 27, 2024), while the group’s cement firms ACC and Ambuja Cements, were up 4.3% and 4.6%, respectively.
Adani Total Gas led the gains with a 16.5% surge, indicating investors were unfazed by the French partner TotalEnergies SE’s decision to freeze fresh investments into the Adani group.
Adani Power was nearly 16% up, while Adani Ports and SEZ had risen 7.2% in the day’s trading so far.
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