Adani Group firms’ shares fall for second session after US indictments
12:00 am Friday, November 22nd, 2024
(Reuters) – Adani Group companies’ shares fell for a second straight day on Friday after U.S. prosecutors charged the Indian conglomerate’s billionaire chairman in an alleged bribery and fraud scheme.
Gautam Adani’s flagship Adani Enterprises fell 4% to hit their lowest since May 2023.
Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions fell between 3% and 10%.
ACC was down 0.5%, while Ambuja Cements and NDTV rose about 1% each.
On Thursday, about $27 billion was wiped off the market value of Adani Group companies, while Kenya’s president canceled a massive airport project with the group, in the aftermath of the indictments.
(Reporting by Sethuraman NR; Editing by Muralikumar Anantharaman)
