Adani Stocks Drop As TotalEnergies Halts Investments, Telangana Rejects Donation

Adani Group stocks faced a sharp decline on November 25th after French energy giant TotalEnergies announced it would halt further investments in Adani Group companies. Shares of Adani Green Energy dropped 9%, Adani Enterprises fell 4%, and Adani Total Gas slid 2% following TotalEnergies’ decision to suspend financial contributions until allegations against Adani Group individuals are clarified. TotalEnergies, which holds a 19.75% stake in Adani Green Energy, cited concerns over a U.S. investigation into alleged corruption.Adding to the turmoil, both houses of Parliament witnessed uproar as the opposition demanded a discussion on bribery allegations against the Adani Group. Proceedings were adjourned for the day amidst heated protests, further amplifying the political storm surrounding the group. Meanwhile, Telangana Chief Minister Revanth Reddy announced that the state government had rejected a ₹100 crore donation from Adani Group for the Young India Skill University, emphasizing the need for transparency in funding.