Adani Green, Adani Energy, Adani Total Gas, Adani Power: Adani stocks rally up to 15% today; here's why

Adani group stocks such as Adani Green Energy Ltd, Adani Energy Solutions, Adani Total Gas Ltd and Adani Power Ltd climbed up to 15 per cent in Friday’s trade as big investors reposed faith in the group after the clarification on the US bribery case. Adani stocks also gained after the group said all of its portfolio companies have sufficient liquidity to cover all debt servicing requirements for at least the next 12 months.

Japan’s biggest lenders including Mizuho Financial Group have reportedly come in support of Adani group after sovereign fund Abu Dhabi’s International Holding Company (IHC) said its outlook on investments in the group remains unchanged despite the US indictment of the conglomerate’s founder chairman Gautam Adani. Last week, Rajiv Jain’s GQG Partners had also reaffirmed its faith in the Adani Group, stating there’s no shift in its investment strategy despite the allegations.

Adani Green Energy shares surged 14.64 per cent to hit a high of Rs 1,247.55. The Adani Energy Solutions stock was trading 10.81 per cent higher at Rs 806.Adani Total Gas climbed 4.74 per cent to Rs 841.30 while Adani Power advanced 2.53 per cent to Rs 574.40.

As per a Bloomberg report, Mizuho Financial Group Inc expects the latest development should not have a long-lasting impact as it intends to continue supporting the group, according to people familiar with the matter.

Sumitomo Mitsui Financial Group Inc and Mitsubishi UFJ Financial Group Inc are also reportedly having no plans to pull back from investments and are open to fresh financing if needed later.

Shares of Adani Enterprises and Adani Ports gained 1 per cent each. Cement stocks Ambuja Cements and ACC rose up to 2.4 per cent. NDTV gained 3 per cent while Sanghi Industries was flat.

Earlier, in a statement, IHC, a significant foreign investor in the Adani Group, emphasised its ongoing confidence in the group’s contributions to green energy and sustainability. “Our partnership with the Adani Group reflects this trust,” the company stated. “As with all our investments, we continue to monitor relevant information and developments. At present, our outlook on these investments remains unchanged.”

Gautam Adani, Sagar Adani, and Vneet Jaain have not been charged with any violation of the FCPA (Foreign Corrupt Practices Act) in the counts set forth in the indictment of the United States Department of Justice (DOJ) or the civil complaint of the US Securities and Exchange Commission (SEC),” Adani Green Energy Ltd (AGEL), the company at the centre of the indictment, informed stock exchanges.

Meanwhile, te group in a release suggested the portfolio companies had investments amounting to Rs 75,277 crore in H1FY25, leading to a new record-high gross total assets of Rs 5.53 lakh crore. This substantial and resilient growth can be attributed to Adani’s strategic focus on its infrastructure platform, which offers significant stability and predictability, it said.

“All portfolio companies have sufficient liquidity to cover all debt servicing requirements for at least the next 12 months. Debt maturities for each year until FY34 are less than TTM ended September 2024,” it added.