Adani group stocks witnessed a sharp rally of up to 13% in Wednesday’s trading session after a US court accepted the plea filed by the counsels of Guatam and Sagar Adani for a pre-motion conference to dismiss a securities fraud case brought against them over 15 months ago by the Securities and Exchange Commission (SEC).
All Adani group stocks traded higher following this development and amid a sharp rebound in the Indian stock market following the US-Iran ceasefire news.
Adani Green and Adani Total Gas led with a 13% rise each. Meanwhile, the flagship Adani Enterprises shares gained 11%. Both Ambuja Cement and Adani Energy hit the 10% upper circuits, while Adani Ports, Adani Power, and ACC gained between 6-8%. NDTV stock also rose, up 12%.
