Adani Group Stocks Surge Following US Court's Dismissal Move
Adani group stocks rally on reports of US court relief
Business Standard
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Adani Group stocks experienced significant gains after a US court permitted the group to seek dismissal of a case filed by the U.S. Securities and Exchange Commission (SEC). Adani Green Energy led the rally with a 10.96% increase, while other group stocks also saw substantial rises, reflecting investor optimism.
- 01Adani Green Energy stock surged by 10.96%.
- 02The US court's decision allows Adani to seek dismissal of an SEC case.
- 03The case relates to allegations of misleading investors during a 2021 bond sale.
- 04Other Adani stocks, including NDTV and Adani Total Gas, also saw significant gains.
- 05The SEC's claims are contested by Adani as legally flawed.
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Adani Group stocks rallied sharply following reports that a US court has allowed the group to pursue the dismissal of a case filed by the U.S. Securities and Exchange Commission (SEC). Leading the surge, Adani Green Energy saw a 10.96% increase, while NDTV and Adani Total Gas gained 9.53% and 8.56%, respectively. Other stocks in the group, including Adani Enterprises and Adani Energy Solutions, also experienced notable rises of 8.22% and 7.64%. The case, which dates back to November 2024, involves allegations that Gautam Adani and Sagar Adani misled investors regarding a bribery scheme linked to Indian officials during a bond sale by Adani Green Energy. The group argues that the SEC's claims are legally flawed and lacks jurisdiction, contributing to the positive market response.
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The positive market response could boost investor confidence in the Adani Group, potentially leading to increased investments and market stability.
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