Adani Group Stocks Climb As Investors Look Beyond US Court Order: Full List

Stocks of nine of 11 Adani Group firms climbed higher in the stock market in the morning trade of Monday, November 25, 2024. As investors seemed to look beyond the US SEC charges, Adani shares rebounded from their Thursday lows and inched higher.

US Court Order Against Adani Group: Which of Adani Group's Stocks Gained?

Adani Energy Solutions surged maximum among all stocks at about 7 per cent, in line with the equity market. The stock of Adani Energy Solutions jumped 6.89 per cent, Adani Total Gas surged 5.33 per cent, Adani Green Energy soared 6.42 per cent, Adani Ports climbed 4.64 per cent and Adani Power rallied 4.17 per cent on the Bombay Stock Exchange (BSE). However, NDTV shares went down by 2 per cent - according to the update at about 1.30 pm.

This, was when the 30-scrip BSE Sensex jumped 1,330.17 points to 80,447.28 and the 50-pack Nifty surged 438 points to 24,345.25, in morning trade, as investors bought on the Mahayuti Agahdi in Maharashtra over the weekend.

Adani-US Court Order: Kenyan Issue Added To Worries

Even as the US Court order spooked Adani Group stocks on Thursday, Kenya's President William Ruto canceled more than USD 2.5 Billion (about 35 lakh crore) in contract on 23rd November, pushing the stocks furter down on Friday. The agreement was for Adani to build key transmission line for the next 30 years.

In a detailed statement on the bourses, te Adani Group had declined any allegations of corruption.

Adani Group: Full Statement On US Court Order

"The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied.

As stated by the US Department of Justice itself, "the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty." All possible legal recourse will be sought.

The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws."