Adani Group stocks crash after US govt agency’s latest actions:The commission moves New York based court to permit it to send notices to Gautam Adani in $265 million bribery case

Shares of companies in the Adani Group fell a lot on Friday. Some stocks dropped by as much as 13%. This happened because of reports that a US regulator is looking into the group. Stocks Take a Dive The stock prices of many Adani Group companies went down significantly. For example, Adani Enterprises fell by over 9%, and Adani Ports dropped by almost 8%. Adani Green Energy was hit the hardest, falling by over 13%. US Regulator Involved The US Securities and Exchange Commission (SEC), which regulates the stock market in the US, is reportedly seeking permission from a court to send summons to Gautam Adani and Sagar Adani. Bribery Allegations The SEC is investigating allegations of fraud and a $265 million bribery case. These allegations have raised concerns among investors. Adani Green Energy’s Profit Falls Adding to the negative news, Adani Green Energy reported that its profit for the December quarter fell by 99% compared to the same period last year. This also contributed to the stock’s decline. Other Stocks Affected The negative news also affected other Adani Group stocks, such as Ambuja Cements, Sanghi Industries, and NDTV. What the Adani Group Says The Adani Group has denied the charges of bribery and fraud. They say that the allegations are baseless and that they are following all the laws. They also said that they will take legal action to defend themselves. Market Impact The overall stock market in India also fell on Friday. The Sensex, a major stock market index, dropped by over 769 points.