Adani during morning trading on Friday after US prosecutors accused billionaire Gautam Adani of being part of a scheme to pay bribes of $265 million (about Rs 2,200 crore) to Indian officials in exchange for favorable terms for solar power contracts. Shares of eight out of ten listed companies of the group declined. Adani Green Energy declined 10.95 per cent and Adani Energy Solutions declined 8.57 per cent to hit a 52-week low of Rs 637.85 on the BSE. Shares of group flagship Adani Enterprises fell 6.98 per cent to hit a 52-week low of Rs 2,030.
Shares of Adani Power fell 6.38 per cent, Adani Total Gas fell 6.11 per cent, Adani Ports fell 5.31 per cent, Adani Wilmar fell 5.17 per cent to hit a one-year low of Rs 279.20. And NDTV declined by 3.41 percent. In contrast, ACC and Ambuja Cements were trading over 2 per cent higher despite decline in early deals. In the equity market, BSE benchmark Sensex rose 781.02 points to 77,936.81 and NSE Nifty rose 228.90 points to 23,578.80.
Shares of Adani group companies fell heavily on Thursday. On BSE, shares of Adani Enterprises fell by 22.61 per cent, Adani Energy Solutions by 20 per cent, Adani Green Energy by 18.80 per cent, Adani Ports by 13.53 per cent, Ambuja Cements by 11.98 per cent and Adani Total Gas by 10.40 per cent. Adani Wilmar shares fell by 9.98 per cent, Adani Power by 9.15 per cent, ACC by 7.29 per cent and NDTV by 0.06 per cent.
Adani Group on Thursday denied allegations of paying bribes to secure favorable terms for solar power contracts, saying US prosecutors' allegations are baseless and the group complies with all laws. It said all possible legal measures would be taken. “The allegations made against Adani Green's directors by the US Department of Justice and the US Securities and Exchange Commission are baseless and are denied,” a spokesperson for the group said in a statement.
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