Adani Green Energy, the Adani Group firm at the center of a U.S. indictment controversy, saw its shares surge as much as 19% on Friday. Other Adani Group companies, including Adani Energy and Adani Total, also saw significant gains, with Adani Total climbing as much as 7.2% since the indictment. The Adani Group's stock prices have risen following a statement denying bribery allegations against its chairman, Gautam Adani.
The stocks have recovered substantially since their steep drop on November 21, when they fell over 18% to 1,145.70 rupees. The recent rebound reflects a cautious improvement in investor sentiment, according to Mohit Mirpuri, an equity fund manager at SGMC Capital. However, volatility is expected to continue as the case progresses
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Adani Group Stocks Surge After Refuting Bribery ChargesFollowing a statement refuting bribery charges against its chairman, shares in Adani Green Energy, Adani Energy, and Adani Total have seen significant gains. Adani Green Energy's stock jumped as much as 19%, with Adani Energy rising up to 14.4% and Adani Total surging as much as 7.2%. These increases come after substantial losses during a selloff following the U.S. indictment.
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Adani Green soars 19% as group stocks recover sharply amid ongoing U.S. legal challengesShares in India's Adani Group have been rallying on the back of the group's statement refuting bribery charges against its billionaire chairman, Gautam Adani.
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Adani Stocks Soar as Group Denies Bribery Allegations in U.S. IndictmentAdani Green Energy saw its shares increase by up to 19% following the company's denial of bribery charges. Adani Energy and Adani Total also gained, reflecting a cautious optimism among investors despite ongoing legal challenges.
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Adani Group stocks plummet in the 2nd day amid bribery scandalStocks of India’s Adani Group, including Adani Green Energy, dropped significantly following a US arrest warrant for its founder over bribery charges, leading to a combined loss of $33 billion in market value.
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