One-Day Rout Erodes Over ₹1 Lakh Crore from Adani Group Market Cap

Adani Group companies witnessed a sharp and broad-based sell-off in the Indian stock market on Friday after fresh legal developments in the United States intensified investor concerns. The trigger was a renewed move by the US Securities and Exchange Commission (SEC) in an ongoing civil case linked to alleged bribery and securities law violations. As a result, the combined market capitalisation of Adani Group firms fell by more than ₹1.1 lakh crore in a single trading session, marking one of the steepest one-day losses for the conglomerate in recent months. The sell-off also weighed heavily on broader markets, with the Sensex declining by nearly 770 points and the Nifty slipping over 240 points, eroding overall investor wealth.

Selling pressure was visible across almost all listed Adani companies, reflecting heightened nervousness among investors. Adani Green Energy emerged as the biggest laggard, plunging over 13 per cent during the session. The fall was compounded by weak financial performance, as the company reported a 99 per cent drop in net profit for the December quarter. Other major group stocks also posted steep losses, with Adani Energy Solutions , Adani Enterprises , Adani Power , and Adani Ports recording sharp declines. Shares of group-linked companies such as Ambuja Cements and NDTV also closed more than 5 per cent lower, indicating that negative sentiment had spread across the broader Adani ecosystem.

The sharp market reaction followed a key legal escalation in the United States. The SEC, which has been pursuing a civil case against the Adani Group since November 2024 , recently approached a federal court in New York seeking permission to serve legal summons directly via email to Gautam Adani and Sagar Adani . Earlier attempts through international legal channels were rejected by India’s Ministry of Law on technical grounds.

At the centre of the case are allegations of a $265 million bribery scheme linked to solar power contracts, along with claims that American investors were misled through bond issuances amounting to $750 million. The SEC has alleged violations of US securities laws , including failure to disclose material information.

Market participants viewed the SEC’s latest move as a sign of heightened regulatory pressure, raising fears of prolonged legal uncertainty. This development revived memories of past scrutiny, including the Hindenburg Research episode, which had earlier triggered sharp volatility in Adani stocks.

In response, the Adani Group strongly denied the allegations, calling them baseless , and reiterated its commitment to transparency and corporate governance. Analysts say future market sentiment will remain closely tied to developments in the US legal case, making the upcoming court decision a key factor for investors.