Adani Green Energy shares surged 9% to Rs 1,445, recovering all losses since the U.S. indictment on November 21. This sharp rebound follows allegations against the group’s billionaire founder, Gautam Adani, over an alleged $265 million bribery scheme. The recovery in stock value came after the company issued a clarification denying the bribery accusations against…
READ MOREWhile Adani Group stocks bounced back on Friday after a previous day collapse, the ports-to-power conglomerate has seen some setbacks as a fallout of the indictment by US court. Here are 5 things which have gone against the group as a reaction to what happened: 1. Likely credit halt by global banks Some global banks…
READ MOREMumbai: India’s equity indices soared 2.5% on Friday-the biggest single-day gain in five months-as traders rushed to cover bearish bets in an oversold market ahead of the Maharashtra state election results on Saturday. The bounce-back follows Thursday’s 0.7% slump in the wake of the US indictment against Gautam Adani and others over corruption charges. Seven…
READ MOREStocks of Adani Group companies fell up to 20% on Thursday after billionaire Gautam Adani and seven others faced charges in the United States in a multibillion-dollar bribery and fraud scheme. Prosecutors announced the charges on Wednesday, alleging that the group bribed Indian officials to secure solar energy contracts. Shares of Adani Energy Solutions were…
READ MOREShares of ITD Cementation fell by 7.7% on Monday in an early trading session to their dayβs low of Rs 491.55 on the BSE as Adani Group aims to acquire nearly a 73% stake in the company for approximately Rs 5,759 crore. This will be followed by an open offer to purchase an additional 26%,…
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