Shares of Adani group companies fell sharply on Friday, with some stocks plunging as much as 13%, after reports said the US Securities and Exchange Commission (SEC) has approached a New York court seeking permission to serve summons to group chairman Gautam Adani and executive Sagar Adani in connection with an alleged fraud and $265-million bribery case.The sell-off wiped out an estimated $12.5 billion in market capitalisation, reported Reuters, adding to broader weakness in domestic equities.
Adani Group stocks tumble amid regulatory overhang, weak earnings
Adani Enterprises, the group’s flagship firm, dropped as much as 10.65% during the session and ended among the top losers on the Nifty 50. On the BSE, the stock fell 9.38% to Rs 1,891.60. Adani Power declined 8.84% to Rs 128.35, Adani Ports slid 7.81% to Rs 1,303.35, and Adani Total Gas dropped 7.55% to Rs 507. Adani Ports was the biggest loser on the Sensex.Adani Green Energy Ltd plunged 13.20% to Rs 785 after reporting a consolidated net profit of Rs 5 crore for the December quarter of 2025, marking a 99% year-on-year fall from Rs 474 crore a year earlier.Shares of Adani Energy Solutions Ltd fell 10.57% to Rs 827.20 and hit a lower circuit after the company reported an over 8% decline in quarterly net profit to Rs 574.06 crore, largely due to higher tax expenses.Other group stocks also came under pressure. Ambuja Cements fell 5.98%, Sanghi Industries dropped 5.96%, NDTV slipped 5.31%, and ACC declined 2.76%.
SEC seeks approval to email summons after delivery hurdles
According to filings cited in reports, the US SEC told a Brooklyn court that it has been unable to secure assistance from Indian authorities to deliver summons to Gautam Adani and Sagar Adani. The regulator has now sought court approval to serve the notices via email.The lawsuit, unsealed in November 2024, alleged that Adani group executives violated US securities laws by making false and misleading statements in relation to Adani Green Energy Ltd and were part of a scheme to pay bribes to Indian officials to secure favourable solar power contracts.US law bars foreign companies that raise capital from American investors from paying bribes overseas or soliciting investments through misleading disclosures.
Adani group denies charges; analysts flag lingering uncertainty
The Adani group has denied the allegations, calling them baseless, and said it would pursue all possible legal remedies.“The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied,” a group spokesperson said, as quoted PTI, adding that the conglomerate is compliant with all applicable laws.Market participants said the timing of the SEC filing unsettled investors. “Market participants assumed there’s nothing pending and that the group has been cleared, so the SEC filing seems to have come out of the blue,” Ambareesh Baliga, an independent market analyst, told Reuters, adding that with no clear timeline, the issue could weigh on sentiment in the near term.The broader market also remained under pressure, with the BSE Sensex falling 769.67 points to close at 81,537.70, while the NSE Nifty dropped 241.25 points to 25,048.65.
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