Adani Green Energy shares zoom 6% as investors buy the dip. Here’s what happened
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Shares of Adani Green Energy surged 6% to touch an intraday high of Rs 818.45 on the BSE on Tuesday, January 27, as investor sentiment appeared to recover following a sharp 12% decline on Friday. The earlier drop had come in the wake of Bloomberg reports that the US Securities and Exchange Commission (SEC) was seeking to directly serve summons on Gautam Adani and Sagar Adani in connection with a $265 million bribery and fraud case. Additionally, the company had reported a net loss of Rs 41 crore in Q3FY26, against a net profit of Rs 492 crore in the corresponding quarter of FY25. However, over the weekend, the company released a formal clarification addressing the developments and reiterated that it is not a party to the civil proceedings initiated by the SEC. The firm also noted that no charges have been brought against it. According to the clarification, Adani Green stated that its legal counsel is already in discussions with the SEC on...