Adani stocks climb 2-4% as US reportedly moves to dismiss fraud case against Gautam Adani
Adani Group equities advanced after reports the US Justice Department will drop fraud charges tied to a $10B US investment pledge by Gautam Adani. Separately, Adani and his nephew settled an SEC civil suit for $18M, lifting sentiment across Ports, Power, Green, Wilmar and Enterprises.
Adani Group stocks rose 2-4% on reports the US Justice Department is moving to dismiss fraud charges against Gautam Adani, who pledged $10 billion US investment. Adani and nephew separately settled SEC civil suit for $18 million.
Why this matters
Builds on the $18M SEC settlement and earlier reports of DOJ dropping bribery charges, removing a key overhang on Adani's access to dollar bond markets and airports retail capital raise.
Retail-company signals steady at 287 in last 90 days.