Adani group stocks rally on reports of US court relief

Leading the rally, Adani Green Energy jumped 10.96%, while NDTV gained 9.53%. Adani Total Gas rose 8.56%, and Adani Enterprises advanced 8.22%.

Adani Energy Solutions climbed 7.64%. Cement players Ambuja Cements and ACC gained 6.83% and 6.21%. Adani Ports and Special Economic Zone rose 5.36%, while Adani Power added 3.12%.

Media reports said the US court allowed a pre-motion conference on the group's plea to dismiss the case linked to a 2021 bond sale by Adani Green Energy. The group has contested the case, citing lack of US jurisdiction and overreach of US securities laws.

The case dates back to November 2024, when the SEC sued Gautam Adani and Sagar Adani. The regulator alleged they misled investors by not disclosing an alleged bribery scheme linked to Indian officials.

In its plea, the group said the SEC's claims around the 2021 bond sale are legally flawed on multiple grounds.