Adani stocks jump on reports of plea to drop US charges

NEW DELHI: All listed Adani group stocks ended sharply higher on Monday, amid reports that Gautam Adani‘s representatives met with US administration officials to seek the dismissal of criminal charges in a bribery probe. The stock of Adani Total Gas zoomed 11%, Adani Enterprises jumped 7%, Adani Green Energy rallied 6.6%, Adani Ports surged 6.3% and Adani Power climbed 5.9% on BSE.
In Nov last year, US authorities charged Adani, his nephew and ED Sagar Adani and MD Vneet S Jaain for being involved in an alleged scheme to pay bribes to Indian government officials to win solar energy contracts, and concealed the plan as they sought to raise money from US investors.