adani group shares
Shares of all 11 listed companies of Adani Group are seeing a rise on Friday. On BSE, shares of Adani Green Energy rose by 14.64 percent, Adani Energy Solutions by 13.54 percent, Adani Total Gas by 7.33 percent, Adani Power by 4.90 percent and NDTV by 4.54 percent. Apart from this, shares of Ambuja Cements rose 2.90 per cent, Sanghi Industries rose 2.44 per cent, Adani Ports rose 2.25 per cent, Adani Wilmar rose 2.24 per cent, Adani Enterprises rose 2.11 per cent and ACC rose 1.34 per cent.
Sensex rose 688 points
Meanwhile, BSE Sensex traded 688.31 points higher at 79,732.05 and NSE Nifty gained 192.65 points at 24,106.80. Earlier, Abu Dhabi’s International Holding Company (IHC) assured Adani Group’s founding chairman Gautam Adani not to change its view on investment in the group despite the indictment in the US. The Sri Lanka Ports Authority and the Tanzanian government have also expressed full support to the Adani Group.
Adani Group rejected all the allegations
Adani Group says industrialist Gautam Adani and his nephew Sagar Adani have not been charged with violating the US Foreign Corrupt Practices Act (FCPA) in an alleged bribery case. Rather, he has been charged with securities fraud, which can carry monetary penalties. AGEL is accused of paying bribes worth US$265 million to Indian officials to win solar power sales contracts, which could have netted the company US$2 billion in profits over a 20-year period. According to the company, the three AGEL executives have been charged only with securities fraud conspiracy, wire fraud conspiracy and securities fraud. Generally the penalties for such charges are less severe than for bribery. Adani Group has rejected all the allegations and has said that it will adopt all possible legal means to defend itself.
Latest Business News
