- By Aditya Pratap Singh
- Thu, 28 Nov 2024 11:23 AM (IST)
- Source:JND
Adani Group Share Price: Amidst the ups-down in the stock market on Thursday during early trade, Adani Group's stocks continued the last session's upward trend, witnessing a rise for the second consecutive day today. Adani Energy Solutions and Adani Green Energy share price surged up to 10% in early trade today, extending the previous day's rally which was accelerated after Adani Group clarified that chairman Gautam Adani and his nephew Sagar Adani were not named in bribery charges in the US.
Adani Group Stock Share Price Today (In Morning Trade)
- Adani Green Energy's share price has jumped by about 10 per cent
- Adani Energy Solutions shares soared about 10 per cent.
- Adani Enterprises share price 3.89 per cent.
- Adani Power's share price soared over 8.5 per cent.
- Adani Ports share price was up 1.83 per cent up.
- Adani Total Gas Limited's share price jumped 8.85 per cent.
- Shares of Adani Wilmar trades 2.62 per cent up.
- ACC shares were up 0.89, while Ambuja Cement was up over 0.5 per cent.
- NDTV share price was up over 2 per cent
Also Read: Stock Market Today: Sensex, Nifty Trade Flat In Early Trade; Rupee Falls 7 Paise Against US Dollar
Reason for rally in Adani Group stock
The reason behind the rise in the shares of Adani Group companies is the update in which Adani Green has claimed that Gautam Adani and Sagar Adani are not named in the FCPA charges in the bribery case. At the same time, former AG Mukul Rohatgi has also not accused Adani and his nephew in any of the 5 charges. Number 1 is against some other people except both Adani i.e. Gautam Adani and Sagar Adani. Only Azure and CDPQ officials have been accused of bribery.
Moody's reduces rating
Amidst all these recent developments, rating agency Moody's has downgraded the credit outlook of seven Adani companies from 'stable' to 'negative'. Moody's cited the allegations against chairman Gautam Adani and others for allegedly being involved in bribery. At the same time, Fitch Ratings has put some bonds of the group under negative monitoring.
