Gautam Adani Group shares saw a big fall on Thursday.
Adani Group shares have been in a state of shock. The company’s share is down as high as 20%.
Most of the shares are stuck in lower circuits. There is a big news related to Gautam Adani behind this fall in shares.
Actually, after the Hindenburg Research report, Indian industrialist Gautam Adani is now in another trouble.
Gautam Adani is accused of bribery and fraud. This case is from America.
Adani was accused of bribing large amounts to secure contracts and financing for solar projects. He concealed this fact from American investors.
How Much Fall In Which Stock Of Adani Group
At the start of trading on Thursday, November 21, the shares of most of the companies of Adani Group are in the circuit of 10% or 20%-
Adani Enterprises – 10% lower circuit
Adani Ports – 10% lower circuit
Adani Green Energy – 20% lower circuit
Adani Energy Solutions – 20% lower circuit
Adani Power – 18% fall
Adani Total Gas – 19% fall
Adani Wilmar – 10% fall
ACC – 15% fall
Ambuja Cement – 15% lower circuit
NDTV – 14% fall
What Is The Matter?
Adani’s nephew, Adani Green Energy’s Executive Director Sagar Adani, and the company’s former chief executive officer, Vineet Jain, are also being investigated.
Jain was the company’s CEO from 2020 to 2023 and is a managing director on its board of directors.
62-year-old Adani was charged on Wednesday with securities fraud and conspiracy. Two instances have been filed against the defendant before a federal court in Brooklyn.
The matter is related to the bribing of officials of Adani Green Energy Limited and another firm to purchase 12 gigawatts worth of solar energy in the hands of India’s Indian authorities.
The indictment is a charge that accuses Adani and other companies of arranging or paying bribes worth $265 million to officials of the government to secure millions of dollars of funding and contracts through India.
They are accused of obscuring the truth about Wall Street (US stock market) investors.
While these investors have invested several billion dollars in this project in the last five years. At present, no response has come from the Adani Group in this regard.
Quick Fact
Table for Adani Enterprises
| Company name | Adani Enterprises |
|---|---|
| Circuit status | 10% lower |
| Accusation involved | Bribery, fraud |
| Legal case location | Federal court, Brooklyn |
| Charges | Securities fraud, conspiracy |
| Allegation summary | Bribery for solar project contracts |
| Amount of bribes | $265 million |
| Affected contracts | Solar energy, 12 gigawatts |
| Investor impact | Hidden facts from US investors |
Table for Adani Ports
| Company name | Adani Ports |
|---|---|
| Circuit status | 10% lower |
Table for Adani Green Energy
| Company name | Adani Green Energy |
|---|---|
| Circuit status | 20% lower |
| Accusation involved | Bribery, fraud |
| Executive named | Sagar Adani, Vineet Jain |
| Former CEO tenure | 2020 to 2023 |
Table for Adani Energy Solutions
| Company name | Adani Energy Solutions |
|---|---|
| Circuit status | 20% lower |
Table for Adani Power
| Company name | Adani Power |
|---|---|
| Fall status | 18% |
Table for Adani Total Gas
| Company name | Adani Total Gas |
|---|---|
| Fall status | 19% |
Table for Adani Wilmar
| Company name | Adani Wilmar |
|---|---|
| Fall status | 10% |
Table for ACC
| Company name | ACC |
|---|---|
| Fall status | 15% |
Table for Ambuja Cement
| Company name | Ambuja Cement |
|---|---|
| Circuit status | 15% lower |
Table for NDTV
| Company name | NDTV |
|---|---|
| Fall status | 14% |
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