Adani Total Gas rose 16.98 percent, Adani Green and Adani Energy hit the upper circuits after gains of 10 percent each, and Adani Power gained 9.22 percent.
The move in the stock comes after Adani Green clarified that Gautam Adani and his associates have not been charged under the US Foreign Corrupt Practices Act.
Shares of all Adani group firms continued to rally, with Adani Total Gas rising nearly 17 percent in early trade on Thursday. This is the second consecutive day of jump in Adani stock after the recent sharp fall in scrip prices.
Adani Total Gas rose 16.98 percent, Adani Green and Adani Energy hit the upper circuits after gains of 10 percent each, and Adani Power gained 9.22 percent. Holding firm Adani Enterprises gained 4.78 percent.
In morning trade, shares of NDTV gained 2.64 percent, Adani Wilmar gained 2.62 percent, Adani Ports gained 1.57 percent, Sanghi Industries (1.96 percent) increased. Adani Group’s cement stocks ACC and Ambuja Cements also gained 0.30 percent and 0.82 percent.
In the equity market, the BSE benchmark Sensex settled up 89.33 points or 0.11 per cent at 80,321.80 on Thursday. The NSE Nifty rose 42.40 points, or 0.18 percent, to 24,319.65.
The move comes after an Adani group entity said on Wednesday that Gautam Adani and his aides have not been charged under the US Foreign Corrupt Practices Act. It added that he faced three other charges, including securities and wire fraud, which are punishable with monetary penalties.
In an indictment filed by the US Department of Justice (USDOJ) in a New York court last week, Port Energy Group’s founding chairman Gautam Adani, his nephew Sagar or Vineet Jain, were charged with conspiracy to violate Not mentioned in any related case. FCPA, Adani Green Energy Limited (AGEL) said in a stock exchange filing.
AGEL is at the center of allegations that Indian officials paid US$265 million in bribes to secure solar power sales contracts that could have netted the firm US$2 billion in profits over a 20-year period. .
The three — AGEL executives — are charged only with conspiracy to commit securities fraud, conspiracy to commit wire fraud, and securities fraud, the company said. Generally, the punishment for such charges is less severe than bribery.
Last week, Adani Group denied all the allegations as baseless, and said it would seek legal recourse to defend itself.