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The Economic Times
The Economic Times
Veer Sharma

Adani Enterprises, other Adani Group stocks jump up to 3%. Here’s why

Gautam Adani United States SEC the US Justice Department Justice Department Robert J Giuffra Jr the Adani Group The New York Times

Shares of Adani Group companies, including Adani Enterprises, Adani Ports, Adani Green Energy, Adani Energy Solutions and Adani Power, jumped up to 3% on Friday morning after reports indicated that US authorities may move towards resolving fraud allegations against Gautam Adani and potentially close the criminal case against him.

Additionally, Adani Group Chairman Gautam Adani and his nephew Sagar have agreed to pay a total of $18 million to settle Securities and Exchange Commission allegations they made false and misleading representations about Adani Green Energy, Bloomberg reported, further boosting investor sentiment for the stocks.

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