Adani Green soars 19% as group stocks recover sharply amid ongoing U.S. legal challenges

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Adani Green Energy Ltd,Business News

Shares 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.

Adani Energy rose as much as 14.4% on Friday while Adani Total surged as much as 7.2% — it has gained 43% since the selloff following the indictment.

Following the Wednesday release, Adani Green Energy stock rebounded 10%, while the flagship Adani Enterprises jumped 11.5%.The 62-year-old billionaire was accused of paying over $250 million in bribes to Indian government officials to secure solar energy contracts that could generate more than $2 billion in profits.

 

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