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Adani Enterprises to Adani Green: Adani group stocks surge up to 10%; what's fuelling the rally?

Published on 05/05/2025 11:43 AM

Several Adani Group stocks, including Adani Enterprises, Adani Green Energy and Adani Ports, witnessed healthy traction in Monday's session amid reports that Gautam Adani's aids met US administration officials to seek the dismissal of criminal charges in a bribery probe.

According to a Bloomberg report, representatives for Gautam Adani met officials from Trump's administration to seek dismissal of criminal charges in an overseas bribery probe.

Mint could not independently verify this information at the time of writing of this article.

Last November, the US Attorney's Office in New York announced it had indicted Adani Group chair Gautam Adani and seven other executives over an alleged years-long scheme to bribe Indian officials.

Reports of Adani representatives meeting US officials influenced investors' interest in the group's stocks. Shares of flagship firm Adani Enterprises surged almost 7 per cent during the session, looking set to snap their three-day losing run.

Adani Enterprises, on Thursday, May 1, posted a solid 756 per cent year-on-year (YoY) rise in its consolidated net profit to ₹3,845 crore for the quarter ended March 30, 2025. The bottom-line surge was led by an exceptional gain of ₹3,286 crore from Adani Wilmar (AWL) stake sale of 13.5 per cent.

Shares of Adani Green Energy and Adani Ports jumped up to 8 per cent during the session.

Adani Total Gas shares soared over 13 per cent, while those of Adani Power surged 10 per cent.

Shares of Adani Energy Solutions share price jumped over 6 per cent. Among the other group stocks, NDTV share price jumped over 6 per cent. Ambuja Cements shares climbed nearly 3 per cent, while ACC shares rose nearly 2 per cent.

(This is a developing story. Please check back for fresh updates.)

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