Adani Group Shares Slide sharply after U.S. SEC Legal Move
Moneylife Digital Team 23 January 2026
Shares of multiple Adani Group companies fell sharply between 3% (ACC) to 12% (Adani Green) on Friday as investor sentiment soured following a legal development involving U.S. regulators. Stocks of Adani Green Energy, Adani Enterprises, Adani Energy Solutions, Adani Ports and others declined by up to 10 per cent in early trading, wiping out significant market capitalization across the conglomerate’s listed entities. 
 
The sell-off was triggered by news that the U.S. Securities and Exchange Commission (SEC) had sought a U.S. court’s permission to serve legal summons directly via email to Adani Group chairman Gautam Adani and executive Sagar Adani in connection with an alleged $265 million bribery scheme involving Adani Green Energy. This regulatory move alarmed investors, amplifying risk perceptions around the group’s governance and legal exposure. 
 
On the same day, Adani Total Gas reported quarterly earnings that showed a profit increase for the first time in five quarters, driven by growth in compressed natural gas (CNG) sales. Its shares had risen modestly ahead of the earnings release, reflecting some resilience in underlying business performance. 
 
The latest downturn caps a period of heightened volatility for Adani Group’s share prices. In September and later months of 2025, the group’s stocks had staged a strong recovery after the Securities and Exchange Board of India (SEBI) dismissed earlier allegations by U.S. short-seller Hindenburg Research of stock manipulation and related violations. That regulatory clean chit triggered broad gains across most listed Adani firms, lifting market valuations and easing some investor concerns. 
 
That relief rally petered out and there was no sustained bullish trend despite the clean chit by the regulator. 
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