Adani Group's shares are flying at the speed of rocket, shares are rising despite US SEC's allegations

New Delhi : Shares of all the companies listed in the stock market of Adani Group can be seen rising at the speed of rocket. A tremendous rise can be seen in the shares of all the companies of this group. Adani Group chairman and industrialist Gautam Adani and his nephew Sagar Adani have been charged with fraud and bribery by the US SEC. However, these allegations do not seem to have much impact on the performance of Adani Group. Investors continue to have confidence in this group.

On BSE, Adani Total Gas has seen a rise of 7.33 percent, Adani Green Energy's share has seen 14.64 percent, Adani Energy Solutions' 13.54 percent, Adani Power's 4.90 percent and NDTV's share has seen a rise of 4.54 percent. Shares of Adani Ports rose by 2.25 per cent, Ambuja Cements by 2.90 per cent, Sanghi Industries by 2.44 per cent, Adani Wilmar by 2.24 per cent, Adani Enterprises by 2.11 per cent and ACC by 1.34 per cent.

Sensex and Nifty rise

Meanwhile, in today's trading, BSE Sensex is trading at 79,732.05 points with a gain of 688.31 points. Also, an increase of 192.65 points can be seen in today's trading of NSE Nifty, as a result of which Nifty rose and traded at 24,106.80 points.

Monetary penalty may be imposed

Earlier, Abu Dhabi's International Holding Company i.e. IHC had assured Gautam Adani, the founder chairman of Adani Group, of not changing its view on investment in the group despite the US SEC. Sri Lanka Ports Authority and Tanzanian Government have also said to extend full support to Adani Group. Adani Group says that industrialist Gautam Adani and his nephew Sagar Adani have not been charged with violating the US Foreign Corrupt Practices Act (FCPA) in the alleged bribery case. Rather, he has been charged with securities fraud, which can carry monetary penalties.

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US$2 billion profit

AGEN is accused of paying US$265 million in bribes to Indian officials to win solar energy sales contracts that could have netted the company US$2 billion in profits over a 20-year period.

less serious than bribery

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 those for bribery. Adani Group has rejected all the allegations and has said that it will adopt all possible legal means to defend itself.

(with agency input)