Adani Group firms’ shares fall for second session after US indictments

(Reuters) – Adani Group companies’ shares fell for a second straight day on Friday after U.S. prosecutors charged the Indian conglomerate’s billionaire chairman in an alleged bribery and fraud scheme.

Gautam Adani’s flagship Adani Enterprises (NS:) fell 4% to hit their lowest since May 2023.

Adani Ports, Adani Total (EPA:) Gas, Adani Green, Adani Power (NS:), Adani Wilmar (NS:) and Adani Energy Solutions fell between 3% and 10%.

ACC (NS:) was down 0.5%, while Ambuja Cements (NS:) and NDTV rose about 1% each.  

On Thursday, about $27 billion was wiped off the market value of Adani Group companies, while Kenya’s president canceled a massive airport project with the group, in the aftermath of the indictments.