Adani Group stocks rallied up to 3% on Tuesday after a US court ended a legal overhang. Adani Green Energy led gains, while Adani Enterprises, Adani Ports and Adani Power advanced across Indian exchanges.
The market remained weak as rising crude prices and uncertainty surrounding the US-Iran deal weighed on sentiment. The rally followed Judge Nicholas Garaufis’ dismissal of criminal charges against Gautam Adani and Sagar Adani in Brooklyn.
The dismissal with prejudice permanently bars the criminal case from being reopened, sharply reducing event risk for investors. According to court proceedings, the ruling also covered Adani Green Energy Chief Executive Vneet Jaain. US prosecutors accused the defendants in 2024 of bribery and misleading American investors during fundraising.
Adani Group rejected those allegations and maintained compliance with applicable laws and regulations throughout proceedings. The ruling now shifts attention toward group performance, cash flows, expansion plans and infrastructure projects. Broad buying pushed the market value of ten listed Adani companies above Rs. 18 lakh crore.
Adani Green Energy climbed about 3.4%, while Adani Enterprises gained around 1.7% during trading today. Adani Ports rose 1.4%, while Adani Power, Adani Energy Solutions and Adani Total Gas also advanced. ACC, Ambuja Cements and NDTV also joined the broader group's move with smaller gains across counters.
Abhishek Bhilwaria, Partner at BhilwariaFinserv, said the move reflected a “massive sigh of relief” among investors. The market could now refocus on growth, cash flows and major domestic infrastructure projects, Bhilwaria said.
Gautam Adani welcomed the decision through a post on X, calling it ‘humility and deep respect.’ The post highlighted continued faith in truth, fairness and the rule of law throughout proceedings.
The rally shows how legal clarity can outweigh weak market sentiment in the short term. Global risks remain, however, as crude prices and geopolitical uncertainty could continue influencing Indian equities.
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