Impact of US Indictment : Adani’s Shares Crashes Down
Gautam Adani, one of the richest persons in the world is now encountering the contretemps after the US indictments against the Adani Group. The Adani Group of Companies play a crucial roles on the stock market and the shares of Adani Group of Companies crashed down to 21% after the allegations filed against the company by the US Securities and Exchange Comminssion.
This allegations lead to the cancellation of $600 million bond with the US and the US Attorney Office has released a statement in which they have underscored the strong indictments against Adani,
“The indictment alleges schemes to pay over $250 million in bribes to Indian government officials, to lie to investors and banks to raise billions of dollars, and to obstruct justice”
“We will continue to vigorously pursue and hold individuals, including senior corporate officers and directors, accountable when they violate our securities laws” said, Sanjay Wadhwa, Acting Director of the SEC’ Division of Enforsement.
Fall of Adani Group of Companies Shares
| Name of Adani’s Enterprises | Share Prices (After US Allegations) | Fallen Percentage |
| ACC | 2038.40 | -6.71% |
| Adani Enterprises Ltd | 2278.55 | -21.07% |
| Adani Green Energy Ltd | 1173.70 | -20% |
| Adani Ports & Special Economic Zone | 1130.30 | -12.32% |
| Ambuja Cement | 495.60 | -9.83% |
| Adani Total Gas Ltd | 589.45 | -12.32% |
| Adani Wilmar Ltd | 294.40 | -10.00% |
| NDTV | 156.25 | -7.74% |
| SBI | 772.40 | -3.81% |
| Adani Power Ltd | 466.10 | 11.07% |
The stocks of all the Adani Shares have fallen from ₹2.25 lakh crore to ₹12 lakh crore.
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