Adani Group Stocks Plummet Following U.S. Bribery Indictment
Indian billionaire Gautam Adani and associates face allegations of paying $265 million in bribes, triggering a sharp sell-off in Adani Group shares and broader market declines.
- U.S. prosecutors have indicted Gautam Adani and seven others for allegedly bribing Indian officials to secure lucrative contracts worth billions in profits over 20 years.
- Adani Enterprises, Adani Green Energy, and Adani Ports saw stock declines of 23%, 19%, and 14%, respectively, on Thursday.
- The market capitalization of BSE-listed companies fell by ₹5.27 lakh crore, with the Sensex dropping 422 points, or 0.54%.
- The indictment follows earlier allegations from Hindenburg Research, which accused the Adani Group of financial misconduct and misuse of offshore tax havens.
- Broader Indian markets and foreign investor sentiment have weakened, with concerns about political connections in major companies and geopolitical tensions contributing to market volatility.
Sherwood News 
Free Press Journal 