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Adani Stocks Rise Today: Shares of Adani Group companies rallied on Tuesday, with Adani Enterprises, Adani Power, and Adani Green Energy gaining as much as 4.5%; Details
Adani Share Price
Adani Group Shares Rise: Shares of Adani Group companies rallied on Tuesday, with Adani Enterprises, Adani Power, and Adani Green Energy gaining as much as 4.5% on the BSE, following US President Donald Trump’s executive order pausing prosecutions under the Foreign Corrupt Practices Act (FCPA). This nearly 50-year-old anti-bribery law had been central to the allegations against the Indian conglomerate.
Adani Enterprises surged 4.5% to Rs 2,394.05, while Adani Power rose 4.2% to Rs 511.85. Adani Green Energy increased by 3.4% to Rs 985.80, as investor sentiment improved in response to Trump’s directive. The move is seen as a potential relief for the Adani Group, which has faced US legal scrutiny over an alleged $265 million bribery scheme.
Trump Suspends Enforcement of Foreign Bribery Law
President Donald Trump signed an executive order instructing the Department of Justice (DOJ) to temporarily halt the enforcement of the Foreign Corrupt Practices Act (FCPA), a nearly 50-year-old law that was used to launch a bribery investigation into the Adani Group. The FCPA, passed in 1977, prohibits both U.S. companies and foreign firms from bribing foreign government officials to secure or maintain business.
Trump’s directive instructed U.S. Attorney General Pam Bondi to pause enforcement of the FCPA, a law central to some of the DOJ’s most high-profile cases, including an indictment against Indian billionaire and Adani Group chairman Gautam Adani and his nephew Sagar.
Last year, under President Joe Biden’s administration, the DOJ charged Adani for allegedly being involved in a scheme to pay over $250 million (around Rs 2,100 crore) in bribes to Indian officials to secure favorable terms for solar power contracts.
Prosecutors claimed that the Adani Group had concealed these payments from U.S. banks and investors, from whom it raised billions of dollars for the project. The FCPA allows for the pursuit of foreign corruption cases involving connections to U.S. markets or investors.
The suspension and review are seen as a potential relief for the Adani Group, though it remains uncertain how the DOJ will proceed after the six-month review period.
