Adani Enterprises gains after US DOJ drops bribery charges ₹2,725
Adani Enterprises got a boost on Tuesday, with shares rising 1.3% to ₹2,725 after the US Department of Justice dropped bribery charges against the group and its promoters.
The stock started strong, even trading over 2% higher at one point, but gains cooled off later, likely because investors are still cautious due to tensions between the US and Iran.
SEC, DOJ settlements resolve Adani cases
The US Securities and Exchange Commission settled its case with Gautam and Sagar Adani by slapping an $18 million penalty (without admitting guilt), while the Justice Department's separate settlement involved a hefty $275 million payment and led to all charges being dismissed for good.
This helped Adani Enterprises's shares, but other group stocks like Adani SEZ and Ports, Adani Green, and Adani Power didn't see much action, likely because investors are still cautious due to tensions between the US and Iran.