Adani Power to Adani Green: Adani Group Stocks Surge Amid US Congressmen’s Demand for Probe
Stock Market Rally Despite Market Downturn
Adani Power to Adani Green : Adani Group stocks witnessed a significant rally on Tuesday, surging up to 4%, even as the broader Indian stock market faced a downturn. The bullish momentum came after reports surfaced that six US Congressmen had written to the newly appointed Attorney General of the United States, demanding a probe into the previous Department of Justice’s (DoJ) indictment against Adani Group officials in an alleged bribery case.
Shares of Adani Enterprises and Adani Power saw over a 4% increase, while Adani Green Energy and Adani Energy Solutions gained more than 3%. Other group stocks, including Adani Ports and Adani Total Gas, also recorded notable gains, rising over 1% each.
US Congressmen Challenge Adani’s Indictment
The sharp rise in Adani Group stocks on February 11 came after a Press Trust of India (PTI) report revealed that six US Congressmen—Lance Gooden, Pat Fallon, Mike Haridopolos, Brandon Gill, William R. Timmons, and Brian Babin—wrote to Attorney General Pamela Bondi, questioning the decisions made by the Biden administration’s Department of Justice regarding the indictment of Adani Group executives.
In their joint letter, the Congressmen criticized the DoJ’s move, stating that it lacked a strong basis and could potentially harm US-India relations. They pointed out that the indictment targeted Indian executives for an alleged scheme to pay $250 million (approximately ₹2,100 crore) in bribes to Indian officials in exchange for solar power contracts—a case that, according to them, should have been handled by the Indian legal system instead.
Adani Group’s Strong Defense
The Adani Group had previously dismissed the allegations as baseless when the DoJ initially pursued the case in November 2024. The conglomerate reiterated that the charges lacked substantial evidence and were politically motivated.
In their letter, the US Congressmen emphasized that the indictment did not serve American interests and, instead, jeopardized ties with India, a key geopolitical ally. They noted that the case involved only Indian nationals and Indian officials, making it questionable why the US legal system was intervening.
The letter also suggested that external influences may have played a role in pushing forward the indictment. They warned that such actions could strain US-India relations at a time when strategic partnerships and economic collaborations between the two nations are crucial.
Trump’s Return and Changing Geopolitical Dynamics
The letter highlighted how the indictment occurred just before Donald Trump’s return to the Oval Office and stressed that maintaining strong economic partnerships with nations like India is critical for reviving America’s economic prosperity. With Trump advocating for pro-business policies, the Congressmen suggested that strengthening trade and economic ties with Indian companies—including Adani Group—would be a logical step.
Stock Performance and Investor Sentiment
Investors responded positively to these developments, pushing Adani Group stocks higher. The letter from the US Congressmen added credibility to Adani Group’s stance, boosting market sentiment and reinforcing investor confidence.
Despite ongoing global uncertainties, Adani stocks have remained resilient, and the latest rally indicates strong institutional interest and faith in the company’s long-term growth prospects.
Adani Group: Financial Overview & Key Ratios
| Stock Name | Price Change (%) | Market Cap (₹ Cr) | P/E Ratio | ROE (%) | Debt-to-Equity Ratio |
|---|---|---|---|---|---|
| Adani Enterprises | +4.2% | 3,90,000 | 120.5 | 8.5 | 1.2 |
| Adani Power | +4.1% | 1,40,000 | 25.7 | 12.3 | 1.6 |
| Adani Green Energy | +3.5% | 2,50,000 | 180.2 | 7.1 | 2.1 |
| Adani Energy Solutions | +3.3% | 1,60,000 | 55.9 | 10.2 | 1.4 |
| Adani Ports | +1.8% | 1,90,000 | 21.3 | 15.8 | 0.8 |
| Adani Total Gas | +1.2% | 1,20,000 | 110.7 | 9.6 | 0.9 |
What’s Next for Adani Group?
The recent surge in Adani Group stocks indicates strong investor confidence despite global uncertainties and regulatory scrutiny. The company has continued expanding its business across infrastructure, power, and green energy, strengthening its position in the Indian market.
Moreover, with the US Congressmen raising concerns over the DoJ’s indictment, the case might undergo further review, which could potentially clear Adani Group from legal uncertainties.
For investors, the stock movement suggests optimism about Adani Group’s future, but they should remain cautious about potential regulatory developments. If the case is dropped or reconsidered, Adani stocks could witness further upward momentum in the coming weeks.
Conclusion
The Adani Group’s stock surge highlights how geopolitical and legal developments can impact market movements. With the US Congressmen questioning the DoJ’s indictment, investors seem to believe that Adani Group will emerge stronger from these legal challenges.
As Adani continues to expand in renewable energy, ports, and infrastructure, its market performance will be closely watched. The next few weeks could be crucial in determining whether the rally sustains or if new regulatory hurdles emerge.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.