Adani Group stocks tumbled up to 20% after US authorities charged Gautam Adani and seven others in a $2 billion bribery and fraud case linked to solar energy contracts.
Adani Enterprises and Adani Energy Solutions fell 20%, while Adani Green Energy, Adani Total Gas, and Adani Power lost 17-19%. Ambuja Cements, ACC, and NDTV shares also plunged 14-15%. The indictment accuses Adani of paying $265 million in bribes and defrauding investors, with international arrest warrants issued. Adani’s $600M bond plan was withdrawn after these revelations.