There was a huge decline in all the shares of Adani, they fell so much that it reminded the Hindenburg case, 22 billion dollars were destroyed.

New Delhi. Shares of Adani Group registered a huge fall on 21 November. The reason is the US federal prosecutors’ allegations against Gautam Adani of being involved in a bribery scam of Rs 2,100 crore ($250 million). In the charge sheet filed in Brooklyn, New York, it has been claimed that Gautam Adani, Sagar R. Adani and Vineet S. Jain hatched a complex conspiracy to mislead American investors and violate federal laws. The market value of shares of Adani Group companies declined by about $22 billion in early trading on Thursday. This figure is definitely going to change by the evening.

It is alleged that Adani Group paid bribe to get solar energy project in India. Along with this, it has also been said that an attempt was made to obstruct justice by destroying electronic evidence and misleading the Justice Department, Securities and Exchange Commission (SEC) and FBI. Not only criminal charges, but SEC has also filed a separate civil lawsuit against Adani Group.

Also read – Gautam Adani accused of paying bribe of Rs 2100 crore, lower circuit imposed in all Adani stocks

Impact on Adani Group shares
After these allegations, there was a huge fall in the shares of Adani Group. Below is the information about the decline in shares of various companies. (till 10:30):

After this incident, investors’ trust in Adani Group seems to be weakening. Financial experts believe that these allegations will not only affect the image of Adani Group, but can also increase panic among investors.

Due to these allegations by US federal prosecutors and SEC, Adani Group will have to face challenges on both legal and financial fronts.

Tags: Adani Group, Gautam Adani, stock market, stock market