Adani Group Stocks Surge Amid Reports of Talks with Trump Administration Over Bribery Probe
Adani Group shares witnessed a sharp rise on Monday as reports surfaced about ongoing discussions between the conglomerate’s representatives and officials from US President Donald Trump’s administration.
These discussions reportedly aim to dismiss criminal charges filed against billionaire Gautam Adani and other company executives in a bribery investigation.
Adani Enterprises Leads Market Rally
The group’s flagship entity, Adani Enterprises, saw a jump of 6.96 per cent on the Bombay Stock Exchange, reaching ₹2,452.70—its strongest performance since December 30, 2024.
Adani Ports and SEZ followed closely with a 6.29 per cent surge, marking its most significant gain in five months.
Other group entities also recorded positive momentum:
- Adani Energy rose 3.30 per cent
- Adani Green Energy climbed 6.61 per cent
- Adani Power advanced 5.96 per cent
- Adani Total Gas soared 11.01 per cent
Cement and Media Stocks Also Rise
The upbeat sentiment extended to companies associated with Adani:
- ACC gained 1.04 per cent
- Ambuja Cement increased by 1.76 per cent
- Orient Cement edged up 0.37 per cent
- Sanghi Industries rose 0.72 per cent
- NDTV climbed 4.74 per cent
Talks with Trump Officials Over Indictment
According to a Bloomberg report, Adani representatives have engaged with Trump administration officials since earlier this year.
These meetings have intensified recently, and a resolution might be reached within a month if progress continues at the current pace.
In November 2024, US authorities charged Gautam Adani, his nephew Sagar Adani, and managing director Vneet S Jaain with paying bribes to secure Indian power contracts and misleading US investors during fundraising rounds. The Adani Group has consistently denied these allegations.
Adani Green’s Response to the Allegations
Adani Green Energy issued a statement last month, asserting that their internal review of the US indictment revealed no non-compliance or irregularities.
In another statement to stock exchanges on Monday, the company reiterated it is not involved in any legal proceedings but did not directly respond to reports of the meetings with US officials.
Legal Strategy and Political Outreach
Reports suggest that Adani’s team is arguing the charges are inconsistent with the Trump administration’s priorities and should be reconsidered.
Notably, before the indictment, Gautam Adani had congratulated Donald Trump on his election win through social media and committed to investing $10 billion in the US. He claimed the investment would create over 15,000 jobs.
To manage the legal challenges, the Adani Group has retained major American law firms Kirkland & Ellis and Quinn Emanuel Urquhart & Sullivan LLP to handle both civil and criminal cases filed by the SEC and the Eastern District of New York.
Adani Power Awaits Dues from Bangladesh
Separately, Adani Power is awaiting payment of nearly $900 million (₹7,500 crore) from Bangladesh. The company supplies electricity to Bangladesh through its Godda power plant in Jharkhand.
“As of now, the total billing we (Adani Power) have done so far is around $2,000 million. We have already received $1,207 million out of this, and we have also billed LPS (late payment surcharge) of $136 million,” said the company’s Chief Financial Officer, Dilip Jha, during the quarterly earnings call.
SEC Allegations and Meeting Silence
In November, the SEC alleged that Gautam Adani and Sagar Adani paid millions in bribes to Indian officials and misrepresented their anti-bribery compliance in a $750 million Adani Green Energy bond offering. These allegations were part of a broader indictment from US authorities.
Despite the seriousness of the charges, neither the Adani Group nor officials from the US Justice Department or the White House have issued public comments on the matter.
Bloomberg reported that all parties declined to respond, and Reuters also received no immediate replies from those involved.
Review and Ongoing Developments
The situation remains fluid, with potential outcomes dependent on the pace and outcome of ongoing discussions. The Adani Group continues to maintain its stance that it has acted within legal bounds and is not guilty of any misconduct.
