Adani Green to Adani Power: Adani shares will be in focus tomorrow. Here’s why

Adani Group stocks, ranging from Adani Green to Adani Power, will be in focus today, Tuesday, March 18, after the Bombay High Court on Monday discharged Adani Enterprises' Chairman Gautam Adani and MD Rajesh Adani from an ongoing case of alleged violation of stock market regulations involving ₹388 crore. 

According to the news agency PTI's report on March 17, the Bombay High Court did not find a case for cheating or criminal conspiracy in this alleged violation.

“Merely by asserting that the accused has made a wrong gain without demonstrating the corresponding wrongful loss or deception suffered by a specific victim does not suffice to attract the offence of cheating,” said the Bombay High Court, reported the news agency.

India's fraud investigation body, Serious Fraud Investigation Office (SFIO), in 2012 registered a case against Adani Enterprises and its promoters, Gautam Adani and Rajesh Adani, filing a chargesheet alleging them to be involved in a criminal conspiracy and cheating, as per the report. 

Adani Group Stocks

Adani Group's flagship company, Adani Enterprises, shares closed 1.26 per cent higher at ₹2,250 after Monday's trading session, compared to ₹2,221.95 at the previous stock market close.

Adani Ports and SEZ is the ports operations arm of the Adani conglomerate, the shares of which closed 1.63 per cent higher at ₹1,137.20, compared to ₹1,118.95 in the previous market session.

Adani Power shares closed 0.24 per cent lower at ₹510.70 after Monday's intraday session, compared to ₹511.95 it the previous stock market close. 

Adani Energy Solutions, the power distribution arm of the conglomerate shares, will be in focus tomorrow after closing 1.57 per cent higher at ₹795 on Monday, compared to ₹782.70 on the previous close. 

Adani Green Energy shares closed 2.54 per cent higher at ₹896.15, compared to ₹873.95 at the previous stock market close. 

Other Adani Group stocks like Adani Total Gas, closed 0.02 per cent higher at ₹603.05, compared to ₹602.95 in the previous market session. Adani Wilmar stock closed 0.67 per cent lower at ₹245.25, compared to ₹246.90 after Friday's stock market close. 

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.