Adani Group stocks rise after US drops fraud charges against Gautam Adani
- By Reuters -
- May 19, 2026
Shares of Adani Group companies jumped as much as 5.3% on Tuesday, after the Trump administration moved to dismiss criminal fraud charges against billionaire Gautam Adani, easing a key legal overhang on the ports-to-power conglomerate.
The U.S. Justice Department on Monday moved to drop charges accusing Adani and associates of paying bribes to secure power supply contracts in India, while Adani Enterprises separately settled allegations tied to liquefied petroleum gas imports from Iran.
Shares of the group’s flagship, Adani Enterprises (ADEL.NS), rose as much as 2.71% and were last up 1.75% at 2736.70 rupees by 1:45 p.m. IST.
Adani Group stocks have been volatile since short seller Hindenburg Research’s 2023 report alleging stock manipulation and improper use of offshore tax havens, with several companies recovering sharply from initial losses before coming under renewed pressure amid broader market weakness and legal scrutiny.
In November, U.S. prosecutors accused Gautam Adani and associates of agreeing to pay $265 million in bribes to Indian officials to secure approvals for solar power projects and misleading U.S. investors about the group’s anti-corruption practices.
Adani Group has repeatedly denied wrongdoing.
Separately, the U.S. Treasury Department on Monday said Adani Enterprises had agreed to pay $275 million to resolve alleged sanctions violations tied to liquefied petroleum gas imports from Iran.
“The removal of the legal overhang is a positive and could support debt refinancing and fundraising for new projects,” said Deven Choksey, managing director at DRChoksey FinServ, adding that the development could also pave the way for restructuring initiatives across the conglomerate.
Shares of Adani Green Energy (ADNA.NS), which was linked to the U.S. bribery allegations, were last up 1.77%, after rising as much as 5.26% during the day.
As of 1:45 p.m. IST, Adani Ports (APSE.NS), inched down 0.12%, while Adani Energy Solutions (ADAI.NS), gained 0.67%.
After a blockbuster earnings season, the honeymoon for stocks may be fading fast.
The U.S. Securities and Exchange Commission separately settled a civil lawsuit against Adani over an alleged scheme to bribe Indian government officials, court records showed last week.