Adani Group firms’ shares fall for second session after US indictments
(Reuters) – Adani Group companies’ shares fell for a second straight day on Friday after U.S. prosecutors charged the Indian conglomerate’s billionaire chairman in an alleged bribery and fraud scheme.
Gautam Adani’s flagship
Adani Enterprises
(NS:
ADEL
) fell 4% to hit their lowest since May 2023.
Adani Ports, Adani
Total
(EPA:
TTEF
) Gas, Adani Green,
Adani Power
(NS:
ADAN
),
Adani Wilmar
(NS:
ADAW
) and Adani Energy Solutions fell between 3% and 10%.
ACC
(NS:
ACC
) was down 0.5%, while
Ambuja Cements
(NS:
ABUJ
) and NDTV rose about 1% each.
On Thursday, about $27 billion was wiped off the market value of Adani Group companies, while Kenya’s president canceled a massive airport project with the group, in the aftermath of the indictments.
