Tracking Adani Stocks: Adani Group shares plunge after U.S. bribery indictments
In an indictment unsealed by federal prosecutors in New York on Wednesday (November 20, 2024), Gautam Adani, 62, was charged with securities fraud and conspiracy to commit securities and wire fraud.
The flagship company Adani Enterprises witnessed a sharp decline of 20% in its share value, while Adani Energy Solutions experienced an identical drop. Adani Green Energy saw a reduction of 19.17%, Adani Total Gas decreased by 18.14%, Adani Power fell by 17.79%, and Adani Ports registered a 15% decline on the BSE.
Ambuja Cements and ACC also recorded a significant fall of 14.99% and 14.54% respectively. NDTV shares fell by 14.37%, while Adani Wilmar recorded a 10% decrease in its value.
Adani Enterprises Limited (AEL) is a multinational publicly-listed holding company and a part of Adani Group. Through its various subsidiaries, Adani Enterprises is involved in edible oils and staple foods, airport operations, solar PV manufacturing, road infrastructure, among several other sectors.
Adani Green Energy Limited is one of the largest renewable companies in India, with a current project portfolio of 20,434 MW. The company operates Kamuthi Solar Power Project, one of the largest solar photovoltaic plants in the world.
Adani Power Limited, a part of the diversified Adani Group, is the largest private thermal power producer in India. APL possesses a power generation capacity of 15,250 MW comprising thermal power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, and Jharkhand, and a 40 MW solar power project in Gujarat.
Headquartered in Ahmedabad, Adani transmission is one of India’s largest private sector electric power transmission companies.
Adani Ports and Special Economic Zone Limited (APSEZ) is the largest commercial ports operator in India accounting for nearly one-fourth of the cargo movement in the country. Its presence across 13 domestic ports in seven maritime states of Gujarat, Maharashtra, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.
Published - November 21, 2024 04:12 pm IST
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