Majority of Adani group stocks trade lower for 2nd day; Adani Green tumbles 11 pc
New Delhi (PTI): Shares of eight of the ten listed Adani group firms were trading lower during the morning trade on Friday after billionaire Gautam Adani was charged by US prosecutors for allegedly being part of a scheme to pay USD 265 million (about Rs 2,200 crore) bribe to Indian officials in exchange for favourable terms for solar power contracts. Adani Green Energy dropped 10.95 per cent and Adani Energy Solutions tumbled 8.57 per cent to hit the 52-week low of Rs 637.85 on the BSE.
The stock of the group's flagship firm, Adani Enterprises, slumped 6.98 per cent to hit its 52-week low of Rs 2,030.
Shares of Adani Power tanked 6.38 per cent, Adani Total Gas went lower by 6.11 per cent, Adani Ports declined 5.31 per cent, Adani Wilmar plunged 5.17 per cent to hit the one-year low of Rs 279.20 and NDTV dipped 3.41 per cent.
In contrast, ACC and Ambuja Cements were trading over 2 per cent higher even after falling in the opening deals.
In the equity market, the BSE benchmark Sensex quoted 781.02 points higher at 77,936.81 and the NSE Nifty climbed 228.90 points to 23,578.80.
Shares of Adani group firms fell sharply on Thursday.
The stock of Adani Enterprises had plunged 22.61 per cent, Adani Energy Solutions tanked 20 per cent, Adani Green Energy plummeted 18.80 per cent, Adani Ports dived 13.53 per cent, Ambuja Cements cracked 11.98 per cent, and Adani Total Gas tumbled 10.40 per cent on the BSE.
Shares of Adani Wilmar declined 9.98 per cent, Adani Power slumped 9.15 per cent, ACC fell 7.29 per cent, and NDTV dipped 0.06 per cent.
Adani group on Thursday denied charges of paying bribes to secure favourable terms for solar power contracts, saying the allegations by US prosecutors are baseless and the conglomerate is compliant with all laws.
It said all possible legal recourse will be sought.
"The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied," the group spokesperson said in a statement.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
CT Ravi warns of 'Belagavi Chalo Movement' if inaction on attempted murder complaint
Chikkamagaluru: Former Karnataka Minister and BJP MLC CT Ravi has accused the state Congress government of selective justice and threatened to launch a "Belagavi Chalo" movement if no action is taken against those who allegedly attempted to assassinate him.
Speaking to reporters on Sunday, Ravi alleged that the state government, led by Congress, operates on the "Hammurabi doctrine" rather than adhering to the Constitution. He criticized the swift police response to a complaint filed against him by Minister Lakshmi Hebbalkar while claiming inaction on his own complaint regarding an alleged assassination attempt.
"Does the CM believe I don’t have the right to seek justice under the law? Should I also send goons to get justice?" Ravi questioned. He demanded a judicial investigation into the incident to uncover the truth.
Ravi alleged that he was detained and taken to "mysterious places" by Karnataka State Police, who acted on instructions from undisclosed sources. "I told them to record the calls they received during this operation," he added.
He stated his intent to pursue legal recourse, file complaints with the Human Rights Commission, and ensure those involved in the alleged murder attempt are held accountable. "An FIR has not been filed yet on my complaint. If action isn’t taken, we will launch the Belagavi Chalo movement," Ravi warned.
