Adani stocks rise 3% on US settlement signals in 2026

Stocks jump on reports of US case resolution

Shares of several Adani Group companies rose on Friday morning after reports suggested US authorities may be moving toward resolving fraud-related allegations involving chairman Gautam Adani. Early gains were seen across Adani Enterprises, Adani Ports and Special Economic Zone, Adani Green Energy, Adani Energy Solutions, and Adani Power, with moves of up to about 3% reported in the morning session.

The trigger was a set of reports from Bloomberg and The New York Times indicating the US Justice Department may be considering dropping criminal charges, while the US Securities and Exchange Commission (SEC) works toward settling a parallel civil case. Investors also tracked a separate update from Adani Green Energy on the procedural status of a consent request for final judgment.

What Bloomberg and The New York Times reported

According to The New York Times, citing people familiar with the matter, the US Justice Department is considering dropping charges filed against Adani in the final weeks of the Joe Biden administration. Prosecutors had previously described the matter as an “elaborate bribery scheme involving corruption and fraud at the expense of U.S. investors,” according to the report.

Bloomberg separately reported that US authorities are moving to resolve the fraud charges, and that the Justice Department could announce the dismissal of charges as early as this week, citing people familiar with the matter. Bloomberg also said the SEC is moving toward settling a parallel civil fraud case filed in November 2024 against Adani and others.

The reports added that settlement agreements under preparation could include financial penalties. Bloomberg also reported discussions around a potential settlement of between $15 million and $10 million in connection with a civil fraud case filed by the SEC and others in November 2024.

SEC settlement process: $18 million proposal, court approval awaited

A key development cited across reports was a proposed settlement to resolve SEC allegations tied to disclosures involving Adani Green Energy. Bloomberg reported that Gautam Adani and his nephew Sagar agreed to pay a total of $18 million to settle SEC allegations that they made false and misleading representations.

As per the same report, Gautam Adani would pay $1 million and Sagar would pay $12 million, under a proposed agreement filed in federal court, which still requires a judge’s approval. Reuters also reported that Adani resolved a related civil fraud lawsuit brought by the SEC, subject to court approval.

Adani Green Energy informed exchanges that the US SEC, Gautam Adani and Sagar Adani filed a request for entry of final judgment, on consent, before the US Eastern District of New York Court on May 15, 2026 (India time) / May 14, 2026 (New York time). The company said the final judgment is awaited.

What the US Justice Department alleged in the criminal matter

In the US Justice Department’s case referenced in the reports, authorities alleged that Adani and others offered bribes to Indian government officials to secure solar energy contracts. The allegations also included claims that the arrangement was concealed while raising funds from US investors.

Multiple references in the market reports described the case as linked to an alleged $165 million bribery and fraud scheme. Adani Group stocks had been sensitive to the legal overhang since the first US actions were disclosed in November 2024.

Market action: early surge, then mixed by late morning and close

Trading on Friday reflected the push and pull between headline relief and the reality that court approvals and formal announcements are still pending. In early trade, several Adani stocks touched fresh highs. Reports said Adani Green Energy, Adani Ports and Special Economic Zone and Adani Enterprises registered fresh 52-week highs on the BSE during intra-day trade.

Adani Enterprises was reported to have jumped nearly 3% to around ₹2,780, and was also described as extending gains after nearly 60 lakh shares changed hands in a block deal. But as the session progressed, some counters gave up early gains and traded mixed by around 09:30 AM.

By the end of the session, moves were mixed even after the early rally. Adani Enterprises closed at ₹2,716.00, up 0.11%. Adani Ports and Special Economic Zone ended at ₹1,795.10, up 1.22%. Adani Total Gas finished at ₹616.25, up 0.60%. Adani Green Energy closed at ₹1,379.00, down 2.54%, and Adani Power ended at ₹221.33, down 1.41%.

Block deal: SBI Mutual Fund buys; GQG Partners sells

Alongside the legal headlines, investors tracked a large secondary transaction in Adani Enterprises. SBI Mutual Fund acquired nearly half a percent equity stake worth ₹1,435 crore in Adani Enterprises through open market transactions on May 14.

GQG Partners Emerging Markets Equity Fund, which held 1.59% as of March 2026, sold 5.89 million shares representing a 0.45% stake in Adani Enterprises to SBI Mutual Fund for ₹1,435.15 crore. Another data point cited in the reports said GQG sold 58,92,423 shares at an average price of ₹2,435.60 apiece, for ₹1,435.16 crore.

Why the legal overhang matters for capital markets access

The reports noted that resolving the US cases would be a major relief for the Adani Group, one of India’s largest conglomerates with operations spanning coal mining, renewable energy, airports and infrastructure. The same coverage suggested that such a resolution could help the group re-enter international capital markets and revive expansion plans.

Separately, Bloomberg reported that the group is nearing a deal to pay nearly $175 million to settle a separate probe by the Office of Foreign Assets Control (OFAC), citing people aware of the discussions. That potential settlement, like the others, was presented as under discussion rather than final.

Recent history: summons efforts, jurisdiction arguments, and prior volatility

Earlier this year, media reports said the SEC sought a US court’s permission to serve summons to Gautam Adani and Sagar Adani via email after attempts through diplomatic channels failed. In January 2026, Adani Enterprises issued a clarification to exchanges stating it was not a party to the legal proceedings referenced in media reports and that there were no allegations against the company.

Adani’s legal team had also sought dismissal of the SEC fraud case earlier in 2026, arguing US regulators lacked jurisdiction over the accused individuals and that the alleged misstatements were not legally actionable, as described in the coverage.

Key numbers to track

Timeline of key reported developments

Analysis: what investors are reacting to

The price action suggests the market is primarily responding to the probability of reduced legal uncertainty rather than to any change in business fundamentals. The difference between early gains and a mixed close also shows investors are pricing in that key steps remain unresolved, including judge approval for the SEC consent judgment and any formal Justice Department announcement.

The block deal activity in Adani Enterprises added another layer of focus, especially with the entry of SBI Mutual Fund via open market transactions at a reported value of ₹1,435 crore. For market participants, the combination of legal news flow and high-volume trading can increase volatility even when there is no immediate operational update.

Conclusion

Adani Group shares reacted sharply to reports that US authorities may be nearing a resolution of criminal and civil cases tied to Gautam Adani, while Adani Green confirmed a consent-judgment request has been filed and is awaiting final judgment. The next cues for the stocks, based on the reports, are court approval of the proposed SEC settlement and any formal announcement from the US Justice Department on the criminal charges.