Overview

• 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.