Adani Group Stocks Rise Up To 3.5% After US Court Dismisses Fraud Charges Against Gautam Adani
· Free Press Journal
Shares of Adani Group companies rose in early trade on Tuesday after a US court dismissed fraud-related charges against group founder and chairman Gautam Adani and his nephew Sagar Adani.
The relief from the US legal proceedings triggered gains across Adani stocks, even as the broader Indian equity market faced selling pressure due to rising crude oil prices.
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Adani Enterprises, the group’s flagship company, gained 2.6% to ₹3,080 on the BSE, while Adani Ports rose 1.5% in opening trade.
Adani Green Energy was the biggest gainer among group companies, rising 3.5%. Adani Energy Solutions, Adani Power, Adani Total Gas and NDTV advanced between 1% and 2%. Cement companies ACC and Ambuja Cement also traded higher by around 0.5%.
I welcome the US court’s decision with humility and deep respect for the judicial process.
— Gautam Adani (@gautam_adani) August 10, 2026
Throughout this challenging period, our faith in truth, fairness and the rule of law remained unwavering.
My deepest gratitude to those who never lost faith in us, in the system and in…
US court dismisses charges against Adani executives
The case against Gautam Adani and Sagar Adani was filed in 2024 during the final days of the Joe Biden administration.
US prosecutors had accused them of agreeing to pay bribes worth around $250 million to Indian government officials to secure approval for a solar energy project.
Authorities had also alleged that investors were misled while the Adani Group raised more than $3 billion through loans and bond issuances in US markets.
The Adani Group has repeatedly denied the allegations.
US District Judge Nicholas Garaufis dismissed the charges with prejudice, meaning the government cannot reopen the case in the future. In a statement shared on X, Gautam Adani welcomed the court’s decision and expressed respect for the judicial process.
Judge Garaufis approved the US Justice Department’s request to drop the case after seeking further clarification from prosecutors regarding their decision.
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Before dismissing the charges, the judge directed the Justice Department to publicly explain its reasons for seeking withdrawal of the case.
He also required the defendants to submit sworn statements confirming there was no promise, agreement or undisclosed arrangement connected with the dismissal request.
The judge said he was satisfied that Gautam Adani’s November 2024 announcement of a planned $10 billion investment in the US had no role in the Justice Department’s decision to withdraw the case.
The court order has removed a major legal hurdle for the conglomerate, with reports suggesting that the ruling could help Adani expand its business presence in the US.
The market reaction reflected investor relief, with Adani Group stocks gaining despite cautious sentiment across Indian equities.