Adani Group Stocks Plunge as SEC Seeks India’s Help in Bribery Investigation
Adani Group stocks took a sharp hit in early trading on Wednesday, following reports that the US Securities and Exchange Commission (SEC) has sought assistance from Indian authorities in its investigation into Gautam Adani and his nephew, Sagar Adani. The probe, linked to alleged securities fraud and a ₹2,300 crore bribery scheme, triggered panic selling among investors, sending Adani Enterprises down by 4.3% at market opening.
The SEC informed a US district court on Tuesday that it was working with India's Ministry of Law and Justice to facilitate legal proceedings against the Adanis. This revelation fueled fresh concerns among investors, leading to a broad-based decline across all Adani Group stocks.
Key Highlights:Adani Group Stocks Take a Hit:What Is the SEC Investigating?Inv...