Adani Green to Adani Ports: Adani group shares trade in the red. Here's why

Adani Group stocks fell sharply on Wednesday, with Adani Enterprises dropping 4.3% to Rs 2,123.95. The sell-off followed news that the US Securities and Exchange Commission (SEC) sought assistance from Indian authorities in its investigation of Gautam Adani and his nephew Sagar Adani over alleged securities fraud and a $265 million bribery scheme. Adani Green Energy declined 4.25% to Rs 860, while Adani Ports fell 2.65% to Rs 1,055.25. Other group companies, including Adani Power, Adani Energy Solutions, and Adani Total Gas, also experienced losses ranging from 2.4% to 2.6%. The SEC's move has reignited investor concerns about the conglomerate's governance practices.

 

Source: Business Today, Economic Times, Business Standard