Adani Group stocks rallied sharply on Wednesday, rising as much as 13% after a legal development in the United States improved investor confidence and sparked widespread buying across the group’s listed companies.
The trigger was a US court agreeing to hear a request from lawyers representing Gautam Adani and his nephew Sagar Adani for a pre-motion conference aimed at dismissing a civil securities fraud case filed by the U.S. Securities and Exchange Commission.
Following the update, all Adani Group stocks traded higher. The gains were also supported by a broader rebound in Indian equity markets, which amplified the upward momentum.
Among the top performers, Adani Green Energy and Adani Total Gas surged around 13% each. The flagship Adani Enterprises rose about 11%. Ambuja Cements and Adani Energy Solutions hit their 10% upper circuits, while Adani Ports and Special Economic Zone, Adani Power, and ACC gained between 6% and 8%. Media firm NDTV climbed about 12%.
By the close, Adani Green Energy ended roughly 12% higher at ₹1,035, Adani Total Gas rose about 7% to ₹557, and Adani Enterprises settled nearly 8% up at ₹2,044.90.
The case dates back to November 2024, when the SEC accused Gautam Adani and Sagar Adani of involvement in an alleged bribery scheme tied to Adani Green Energy. According to the regulator, payments to Indian officials were not disclosed to investors during a $750 million bond issue in 2021, potentially violating US securities laws.
The Adanis have denied the allegations and are pushing for the case to be dismissed. Their legal team argues there is no credible evidence, that the SEC lacks jurisdiction, and that the claims do not hold up legally.
Markets interpreted the court’s decision to schedule a hearing as an early procedural win, easing regulatory concerns that had been weighing on the group’s stocks. This shift in sentiment drove strong buying interest and added significant market value across key companies.
Analysts noted that even preliminary legal relief can move Adani stocks, given their sensitivity to regulatory developments. The broader market rally also played a role, with benchmark indices surging after geopolitical tensions eased following a ceasefire announcement between the US and Iran.
Looking ahead, investors will focus on the outcome of the dismissal plea, expected later this month, which could shape the next phase of movement in Adani Group stocks.
