Adani Green, other group shares rise up to 10% after disclosure on FCPA violations

Shares of Adani Green Energy and other Adani Group stocks rose as much as 10% on Wednesday, November 21, after the company cleared DoJ’s charges against chairman Gautam Adani, Sagar Adani and Adani Green MD and CEO Vneet Jaain.

Adani Green said in an exchange filing that Gautam Adani, Sagar adani and Vneet Jain were not charged with violating the FCPA in the charges outlined in the U.S. Department of Justice indictment or the U.S. Securities and Exchange Commission civil complaint. Exchange Commission (SEC).

“These executives were charged in the criminal indictment with three counts: alleged securities fraud conspiracy, alleged wire fraud conspiracy, and alleged securities fraud,” Adani Green said in the filing. he said.

Shares of Adani Green Energy jumped as much as 10% following the announcement, the biggest single-day move since June 5. The stock is currently trading at ₹959.1, up 6.7%.

Other Adani Group shares are also seeing gains of between 2% and 5% in Wednesday’s trading session.

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