Adani Green shares recoup all losses following US bribery charges in 7 trading days
Adani Green Energy shares surged 9% to Rs 1,445, recovering all losses since the U.S. indictment on November 21. This sharp rebound follows allegations against the group's billionaire founder, Gautam Adani, over an alleged $265 million bribery scheme.
The recovery in stock value came after the company issued a clarification denying the bribery accusations against Gautam Adani and other group officials, boosting investor confidence. In recent trading sessions, Adani Green has emerged as one of the top performers, dispelling concerns related to the allegations.
Adani Green shares have gained over 60% in the last four trading sessions, marking a significant recovery.
In a related development, Adani Group’s Chief Financial Officer, Jugeshinder Singh, said that the group may revive its previously scrapped dollar bond sale between April and June 2025, contingent on the outcome of ongoing investigations. Singh also hinted at the possibility of public bond sales by other group firms within the year, during his first media interaction since the allegations surfaced.
The group had previously withdrawn its $600 million bond offering after US authorities accused it of defrauding investors, contributing to a $34 billion market value loss for the conglomerate. Singh expressed confidence in the bond sale’s revival once clarity emerges from the investigations, as reported by Bloomberg.
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