US court will hear Gautam Adani dismissal request, shares jump
Business
Adani Group shares shot up on Wednesday after a US court said it would hear Gautam Adani's request to dismiss a civil fraud case from the US SEC.
Adani Green Energy led the way, climbing 12%, while other group stocks like Adani Enterprises and Adani Ports also saw solid gains.
Gautam Adani disputes US jurisdiction
Adani is pushing back against the SEC's claims, arguing that the US might not even have jurisdiction over the alleged violations.
The next big date is when a pre-motion conference will happen.
On top of that, easing global tensions gave investors more confidence, helping boost shares of other group companies like Adani Energy Solutions and Adani Total Gas by up to 9%.