Adani Group Stocks Rise After US DOJ Drops Charges Against Gautam Adani

New Delhi — The majority of Adani group stocks ended higher on Tuesday after the US Department of Justice permanently dropped all criminal charges against Gautam Adani and his nephew Sagar, bringing a securities and wire fraud case to a complete close after prosecutors concluded they could not sustain the allegations.

Shares of NDTV rallied 5 per cent, Adani Total Gas climbed 2.07 per cent, Adani Enterprises Ltd went up by 1.17 per cent, Adani Green Energy edged higher by 0.81 per cent, Ambuja Cements rose 0.42 per cent, Adani Energy Solutions advanced 0.06 per cent, and ACC edged up 0.03 per cent on the BSE.

However, some of the group stocks ended lower amid profit-taking. Adani Ports dropped 1.37 per cent, and Adani Power skidded 0.07 per cent.

In intrday deals, NDTV surged 11 per cent, Adani Green jumped 5.43 per cent per cent, Adani Total climbed 4.31 per cent, Adani Enterprises Ltd rallied 3.12 per cent, Adani Energy went up by 2.53 per cent, Adani Power edged higher by 2.48 per cent, ACC was up 1.66 per cent per cent, Adani Ports advanced 1 per cent and Ambuja Cements rose by 0.95 per cent.

With this, multiple US regulatory and legal investigations involving the group have all closed.

Last week, the US Securities and Exchange Commission settled civil allegations against the two men tied to disclosures made to investors in connection with solar energy projects in India. Court filings showed Gautam Adani agreed to pay USD 6 million and Sagar Adani USD 12 million, without admitting or denying wrongdoing.

Thereafter, the US Treasury Department’s Office of Foreign Assets Control (OFAC) settled allegations of the Adani Group violating US sanctions on Iran in LPG imports. This followed the Indian conglomerate agreeing to pay USD 275 million while extending “extensive cooperation” with the investigation and making “proactive” disclosures.

Now, the US prosecutors at the Eastern District of New York have dropped all charges against Gautam Adani and his nephew Sagar Adani.

In a filing before the court, the US Department of Justice requested dismissal of the indictment against the Adanis with prejudice.

“The Department of Justice has reviewed this case and has decided, in its prosecutorial discretion, not to devote further resources to these criminal charges against individual defendants,” it said.

Thereafter, the court ordered that the indictment against Adani and others “be dismissed with prejudice”.

The closure marks a dramatic turn in a case that had threatened to disrupt the Adani Group’s global expansion plans. The SEC and DOJ cases, filed in late 2024, alleged that the Adanis orchestrated a USD 265 million bribery scheme involving Indian officials to secure solar power contracts and concealed the arrangement from US investors and lenders while raising capital.