Adani Ports To Adani Energy: Why Adani Group Stocks Fell Upto 5% Today?

The Adani group stocks were largely trading in red during Wednesday's trading session even after billionaire Gautam Adani declared that the Ahmedabad-headquartered company had left US legal issues behind it.

Among the Adani group shares, Adani Energy Solutions emerged as the top laggard, falling 5.59% to hit an intraday low of Rs 1,445.00 per share.

Meanwhile, the shares of Adani Energy declined 3%, and Adani Ports fell over 1% on Wednesday.

The other Adani listed stocks such as Adani Enterprises, and Adani Green Energy were largely trading in red.

Why Adani Group Stocks Declined Today?

The decline in Adani Group stocks comes after the conglomerate's Chairman Gautam Adani said its had placed US legal trouble behind it and is increasing investments across energy, transportation, logistics, and digital infrastructure, citing a report by PTI.

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"The matters related to our US legal proceedings are now behind us, thereby allowing us to focus with renewed confidence and belief on the next phase of our growth," he said.

The company has been under scrutiny from US authorities over bribery allegations related to its renewable energy business.

While the issue with the US Securities and Exchange Commission (SEC) has been settled, the US Department of Justice (DoJ) has reportedly moved to withdraw all charges against the founder and other individuals involved.