Adani Group shares rally for 2nd day; Adani Green, Total Gas zoom up to 19%

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Adani Group shares rally for 2nd day; Adani Green, Total Gas zoom up to 19% - Business Standard

Quick Summary:

At 11:09 am; Adani Total Gas was trading 14% higher, while Adani Green and Adani Energy Solutions were locked in the 10% upper circuit, as compared to nearly 1% decline in the BSE Sensex.

Senior advocate and former attorney general Mukul Rohatgi stated on November 27 that neither Gautam Adani nor his nephew has been accused of violating the US FCPA in the indictment filed by US prosecutors in a bribery case.

Post development, two global rating agencies, Moody’s and Fitch, downgraded the outlook for several Adani group companies from “stable” to “negative” on Tuesday, citing escalating legal and governance risks.