- By Aditya Pratap Singh
- Thu, 21 Nov 2024 10:50 AM (IST)
- Source:JND
Adani Group Share Price: Adani Group Stocks Share Price: The Shares of all listed Adani group Companies took a significant plunge during early trading hours on Thursday after Gautam Adani and Other Adani Group officials were charged with alleged bribery and fraud In the United States. All listed Adani group stocks tumbled over 20% in the early hours, dragging the stock market into the red. The domestic equity indices Sensex and Nifty fell over 1% following the decline in Gautam Adani's stocks.
Adani Group Stocks Fall Up To 20%
Adani Enterprises Share Price - The shares of Adani Enterprises Fell over 20%, hitting two lower circuits in early trade.
Adani Ports Share Price - The shares fell 15% till 10:28 am, hitting lower circuits to trade at Rs 1,096.20 per share on NSE.
Adani Green Energy Share Price - The stock fell 20% to hit a lower circuit in the morning. At around 10:29 am, the Adani Green Energy Stock was trading At Rs 1,156.10, down 18.15%.
Adani Energy Solutions Share price - The Adani Group stock slipped 20% to hit a lower circuit. At 10:30 am, the stock was at Rs 697.25, down 20% on NSE.
Adani Power Share Price - The power sector stock of Adani Group plunged up to 18% in intraday trade on Thursday. At around 10:33 am, the stock was at Rs 456.90 per share, down 12.82 per cent or 67 rupees.
Adani Total Gas Share Price - The shares of Adani Total Gas slumped up to 19% in morning trade. At around 10:34 am, the stock was trading at Rs 571.80, down 14.88 per cent or 100 rupees.
ACC Share Price - The cement stock of Adani Group fell 15% in the morning. At around 10:36 am, the stock was at Rs 1,954.40 per share, down 10.5% or 231 rupees.
Ambuja Cement Share Price - The shares of Ambuja Cement plunged over hit a lower circuit after falling 15% in early trade. At around 10:38 am, the stock was trading at Rs 477.35, down 13.14 per cent.
Also Read: Adani Group News: Adani Energy Solutions Signs Pact To Acquire Pune-III Transmission Ltd
NDTV Share Price - The stock was down 14%.
Why Adani Group Stocks Are Falling?
After the Hindenburg Research Report, this is the latest such allegations on Indian industrialist Gautam Adani and Adani Group. The US authorities accused Adani of duping investors in the US. Their allegations said that Adani gave huge bribes to get contracts and finance for solar projects taking money from American investors.
As reported by various news agencies, others accused are Adani's nephew Adani Green Energy executive director Sagar Adani and the company's former chief executive officer Vineet Jain. Jain was the company's CEO from 2020 to 2023.
Two cases have been registered against Gautam Adani in the Brooklyn federal court. The case is related to bribing officials for Adani Green Energy Limited and another company to sell 12 gigawatts of solar energy to the Indian government. The charges are that Adani and others gave or planned to give bribes of about $265 million to government officials to obtain contracts and finance worth billions of dollars in India. They are accused of hiding the real situation with Wall Street (US stock market) investors. Adani Group has not responded at this time.