Adani group stocks rebound up to 5% after Friday’s rout; Adani Enterprises, Adani Ports among top Nifty gainers

Adani Group

• Adani Group stocks rebounded up to 5 percent after a sharp selloff last session
• Adani Enterprises and Adani Ports led Nifty gainers in early trade
• Selloff was triggered by US SEC seeking summons over alleged fraud and bribery

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Shares of Adani Group companies rebounded sharply by up to 5 percent in early trade on Tuesday, January 27, with Adani Enterprises and Adani Ports and Special Economic Zone emerging among the top gainers on the Nifty. The recovery in Adani group stocks today follows a steep selloff in the previous session triggered by US regulatory developments.

Adani Enterprises shares rose nearly 5 percent to around Rs 1,955, while Adani Ports and Special Economic Zone gained over 4 percent to Rs 1,363, placing both stocks among the top of the Nifty gainers’ list in morning trade. The rebound follows a sharp decline on Friday, January 23, when Adani group stocks fell as much as 14 percent amid reports that the US Securities and Exchange Commission had sought court permission to serve legal summons on billionaire Gautam Adani and group executive Sagar Adani.

Other Adani group stocks also traded higher on Tuesday. Adani Green Energy advanced nearly 4 percent to about Rs 802, Adani Energy Solutions rose close to 4 percent to around Rs 844, and Adani Power was up over 2 percent at roughly Rs 136.

Earlier, on January 23, Adani Enterprises had closed nearly 11 percent lower, its lowest level since May 19, 2023. Adani Green Energy stock had slumped more than 14 percent, while Adani Ports had ended the session down about 7 percent. Adani Energy Solutions had fallen 10 percent, marking its biggest single-day percentage drop since November 21, 2024.

The selloff was sparked by reports that the SEC had asked a US court for permission to directly email summons to Gautam Adani and Sagar Adani in connection with an alleged fraud and a USD 265 million bribery scheme. According to Reuters, the SEC told the court that it did not expect service to be completed through existing channels after India declined two earlier requests to serve the summons.

Adani Group has rejected the allegations, calling them “baseless”, and has said it would pursue “all possible legal recourse”. In June, Gautam Adani had stated that “despite all the noise”, no one from the Adani Group had been charged with violating the US Foreign Corrupt Practices Act or conspiring to obstruct justice.

Separately, Adani Enterprises informed stock exchanges that it is not a party to the legal proceedings referenced in recent media reports and that the matter does not trigger any disclosure requirements under India’s listing regulations. Responding to queries from BSE and NSE following a media report, the company said there are “no allegations made against the Company” and that it is not involved in the proceedings cited. It added that the reported developments do not have any bearing on its disclosure or compliance obligations under SEBI regulations.

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