Adani Enterprises, Adani Power, Adani Green: Why Adani stocks fell up to 13% today
Adani Green Energy Ltd plunged 13.06 per cent to hit a low of Rs 786.20. Adani Energy Solutions Ltd plunged 10 per cent to Rs 832.50. Adani Power Ltd declined 5.79 per cent to Rs 132.65.
- Jan 23, 2026,
- Updated Jan 23, 2026 3:23 PM IST
Adani Enterprises Ltd, Adani Power Ltd, Adani Energy Solutions Ltd and Adani Green Energy were among Adani group stocks that plunged up to 13 per cent in Friday's trade amid a Reuters report that suggested the US Securities and Exchange Commission has sought a US court permission to personally email summons to billionaire Gautam Adani and group executive Sagar Adani over alleged fraud and a $265 million bribery scheme, filings as seen by Reuters showed. Business Today could not independently verify the report.
Stock exchanges have sought clarification from Adani Enterprises Ltd, with reference to similar news appeared in in media citin Bloomberg.
Following the report, Adani Green Energy Ltd plunged 13.06 per cent to hit a low of Rs 786.20. Adani Green Energy had in November 2024 said that its directors were charged on three counts in the criminal indictment namely alleged securities fraud conspiracy, alleged wire fraud conspiracy, and alleged securities fraud.
In a filing to stock exchanges in November 2024, Adani Green Energy had said United States Department of Justice (US DOJ) and the United States Securities and Exchange Commission issued a criminal indictment and brought a civil complaint, respectively, in the United States District Court for the Eastern District of New York, against its directors Gautam Adani and Sagar Adani. The US DOJ also included its director namely, Vneet Jaain, in such criminal indictment, the filing suggested.
At 1.53 pm, Adani Energy Solutions Ltd plunged 10 per cent to Rs 832.50. Adani Power Ltd declined 5.79 per cent to Rs 132.65. Adani Enterprises Ltd tumbled 8.47 per cent to Rs 1,910.70. Adani Ports and Special Economic Zone Ltd also declined 6.02 per cent to Rs 1.328.80.
India had previously refused two requests to serve the summons, Reuters cited the SEC as saying. The SEC has been trying to serve summons on Adani Group founder Gautam Adani and his nephew Sagar Adani since last year in what is described as the most high-profile US legal case involving an Indian conglomerate, Reuters reported. A civil complaint being 1:24 Civ. 8080 has been filed before the United States District Court Eastern District of New York by Securities and Exchange Commission against Mr. Gautam Adani and Mr. Sagar Adani," Adani Green said in NOvember 2024noted.
"Although the complaint prays for an order directing the defendants to pay civil monetary penalties, it does not quantify the amount of penalty," it said in the same exchange filing./.
The Adani Group has called the allegations “baseless” and said it would seek “all possible legal recourse” to defend itself. It did not immediately respond to a Reuters request for comment on the latest SEC filing dated January 21.
As per Reuters, the US markets regulator, in a reply to New York court said it "does not expect service to be completed" through the current route and should be allowed to directly email the summons to the Adani group executives, Reuters reported.
Adani Enterprises Ltd, Adani Power Ltd, Adani Energy Solutions Ltd and Adani Green Energy were among Adani group stocks that plunged up to 13 per cent in Friday's trade amid a Reuters report that suggested the US Securities and Exchange Commission has sought a US court permission to personally email summons to billionaire Gautam Adani and group executive Sagar Adani over alleged fraud and a $265 million bribery scheme, filings as seen by Reuters showed. Business Today could not independently verify the report.
Stock exchanges have sought clarification from Adani Enterprises Ltd, with reference to similar news appeared in in media citin Bloomberg.
Following the report, Adani Green Energy Ltd plunged 13.06 per cent to hit a low of Rs 786.20. Adani Green Energy had in November 2024 said that its directors were charged on three counts in the criminal indictment namely alleged securities fraud conspiracy, alleged wire fraud conspiracy, and alleged securities fraud.
In a filing to stock exchanges in November 2024, Adani Green Energy had said United States Department of Justice (US DOJ) and the United States Securities and Exchange Commission issued a criminal indictment and brought a civil complaint, respectively, in the United States District Court for the Eastern District of New York, against its directors Gautam Adani and Sagar Adani. The US DOJ also included its director namely, Vneet Jaain, in such criminal indictment, the filing suggested.
At 1.53 pm, Adani Energy Solutions Ltd plunged 10 per cent to Rs 832.50. Adani Power Ltd declined 5.79 per cent to Rs 132.65. Adani Enterprises Ltd tumbled 8.47 per cent to Rs 1,910.70. Adani Ports and Special Economic Zone Ltd also declined 6.02 per cent to Rs 1.328.80.
India had previously refused two requests to serve the summons, Reuters cited the SEC as saying. The SEC has been trying to serve summons on Adani Group founder Gautam Adani and his nephew Sagar Adani since last year in what is described as the most high-profile US legal case involving an Indian conglomerate, Reuters reported. A civil complaint being 1:24 Civ. 8080 has been filed before the United States District Court Eastern District of New York by Securities and Exchange Commission against Mr. Gautam Adani and Mr. Sagar Adani," Adani Green said in NOvember 2024noted.
"Although the complaint prays for an order directing the defendants to pay civil monetary penalties, it does not quantify the amount of penalty," it said in the same exchange filing./.
The Adani Group has called the allegations “baseless” and said it would seek “all possible legal recourse” to defend itself. It did not immediately respond to a Reuters request for comment on the latest SEC filing dated January 21.
As per Reuters, the US markets regulator, in a reply to New York court said it "does not expect service to be completed" through the current route and should be allowed to directly email the summons to the Adani group executives, Reuters reported.