Adani Stocks Soar Amid US Bribery Probe Developments
Adani Group stocks surged as Gautam Adani's representatives aimed to dismiss bribery charges in the US. All major Adani stocks saw significant gains by the end of trading. The company's market valuation increased by Rs 13.33 lakh crore. Previously, the group denied all bribery allegations.
- Country:
- India
Adani Group's stock market value skyrocketed on Monday following reports that representatives met with US officials to address bribery charges. Stocks such as Adani Total Gas and Adani Power saw outstanding gains, propelling the overall market valuation by Rs 13.33 lakh crore.
Despite allegations last November, involving Gautam Adani and others in a bribery scheme for solar contracts, Adani Green Energy's recent compliance review found no irregularities. The group persistently denied these claims as unfounded.
The 30-share BSE benchmark also reflected positive momentum, climbing by 294.85 points, with the broader NSE Nifty gaining 114.45 points, as the market responded to the developments surrounding the Adani Group.
(With inputs from agencies.)
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