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Adani shares leap after clarification on alleged FCPA violations
Mint Mumbai
|November 28, 2024
Shares of Adani Group companies surged as much as 20% on Wednesday after Adani Green Energy Ltd said the US authorities had not indicted its top executives for violating the Foreign Corrupt Practices Act (FCPA).
In an exchange filing, Adani Green said Gautam Adani, Sagar Adani and Vneet Jaain face allegations of securities fraud conspiracy, wire fraud conspiracy and securities fraud, but not FCPA violations. It reiterated that its directors would respond as required under legal frameworks.
Among the Adani shares that gained were ACC Ltd (up 4.05%), Adani Enterprises Ltd (11.56%), Adani Green Energy Ltd (10%), Adani Ports & SEZ Ltd (5.9%), Adani Power Ltd (19.99%), Ambuja Cements Ltd (4.51%), Adani Total Gas Ltd (19.99%), and Adani Wilmar Ltd (8.31%). The group's market value rose over ₹1.21 trillion.
Diese Geschichte stammt aus der November 28, 2024-Ausgabe von Mint Mumbai.
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