Most Adani Group Stocks Rise As Markets Shrug Off OCCRP Allegations

Indian stock markets shrugged off the allegations raised by the OCCRP report alleging “opaque” trading by Adani Group. 

After the initial reaction on the day the report was released, there was no follow through selling in the Adani group stocks. The general perception in the market is that the allegations may not have a major impact on the group. 

Adani Group termed OCCRP’s report as “rehashed” allegations that were reported and clarified earlier. 

Most Adani Group stocks were trading higher at around 1 p.m. on Friday. 

The flagship Adani Enterprises Ltd. and Adani Ports and Special Economic Zone were up 1% each. Ambuja Cement Ltd., New Delhi Television Ltd., Adani Energy Solutions Ltd., Adani Green Energy Ltd., Adani Total Gas Ltd., Adani Power Ltd. were also trading higher.

Adani Wilmar Ltd. and ACC Ltd. were down at 1 p.m. compared to a 0.6% rise in Nifty 50. Incidentally, OCCRP also came out with a note on Vedanta Ltd., which was also trading higher in the post-noon trading.