Adani shares jump 7% as investors expect strong growth

Adani Group shares rose 7% on Monday as investors believe Gautam Adani and those accused of bribery, securities fraud and wire fraud in the United States have a strong case to challenge the indictment.

Adani Enterprises shares rose 4% to ₹2319.90, while Adani Energy shares soared nearly 7% to a high of ₹694.15.

Meanwhile, Adani Ports and Adani Power rose 4.6%, Adani Green Energy rose 6.4% and Adani Total Gas rose 5%. Shares of other firms rose 2-3%, including Adani Wilmar, ACC and Ambuja Cements.

Meanwhile, opposition parties are pushing for a debate on bribery allegations against the company, coinciding with the start of today’s winter session of parliament.

However, the administration announced that debate topics would be decided by both chambers’ business advisory committees, asking all sides to ensure parliamentary proceedings proceed smoothly.

Congress members have leveled bribery charges against the Adani Group. Pramod Tiwari, a Congress MP from RS, said his party wants the Adani issue to be taken up first when Parliament reconvenes on Monday.

This is a serious issue affecting the economic and security interests of the country as the corporation has reportedly paid over ₹2,300 crore to politicians and bureaucrats to get lucrative deals for its solar power projects,” he added.

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