Adani Group stocks rally as US case relief nears 2026

Market opens with broad-based gains in Adani names

Shares of most Adani Group companies rallied in Friday’s morning trade as investors reacted to reports that US authorities may be moving toward resolving fraud-related cases involving Gautam Adani. Adani Enterprises rose 2.77% to Rs 2,788.10, while Adani Ports and Special Economic Zone gained 2.23% to Rs 1,813.00. Adani Total Gas climbed 2.29% to Rs 626.65 and Adani Green Energy advanced 1.36% to Rs 1,434.10. Among key listed firms, Adani Power traded lower, slipping 0.49% to Rs 223.39. The moves came amid heightened focus on legal developments in the US that have been a major overhang for the group. Trading remained active as investors tracked both media reports and company disclosures.

Reports signal possible US Justice Department action

Bloomberg and The New York Times reported that the US Justice Department may drop criminal charges against Gautam Adani as early as this week. The reports cited people familiar with the matter, who asked not to be identified because discussions were described as confidential. Alongside the criminal matter, the US Securities and Exchange Commission (SEC) was also reported to be working toward resolving a parallel civil fraud case. The prospect of a resolution was treated by the market as potentially removing a key risk factor for the conglomerate. The Adani Group has denied the US allegations when they first surfaced, according to the information cited. The reports framed the possible end of the cases as significant given the duration of the legal uncertainty.

Bloomberg: proposed SEC settlement and penalties

Separately, Bloomberg reported that Gautam Adani has agreed to pay $1 million to settle SEC allegations linked to disclosures involving Adani Green Energy. The proposed settlement also includes an agreement by his nephew Sagar Adani to pay $12 million, according to that report. If finalised, the deal would remove a major legal overhang for the group, as described in the coverage. Bloomberg also noted that a resolution with the SEC would likely involve a monetary penalty. These steps, if completed, would mark a formal move toward closing the parallel civil track.

Adani Green Energy filing: request for final judgment

Adani Green Energy said in an exchange filing that the US SEC, Gautam Adani and Sagar Adani filed their request for entry of final judgment, on consent, before the US Eastern District NY Court on May 15. The filing specified May 15, 2026 India Time and May 14, 2026 New York Time. The company said Gautam Adani and Sagar Adani consented to the entry of the final judgment without admitting or denying the allegations made in the civil complaint. The filing also referred to payment of a civil penalty of $1.00 million and 412.00 million, respectively, by Gautam Adani and Sagar Adani. Adani Green Energy added that the final judgment is awaited. The disclosure provided a procedural update that investors were closely watching alongside media reports.

Intra-day volatility as stocks hit fresh 52-week highs

Adani Group companies remained in focus in Friday’s intra-day trade, with Adani Green Energy, Adani Ports and Special Economic Zone, and Adani Enterprises registering fresh 52-week highs on the BSE, according to the update. Besides these, Adani Total Gas, Adani Power and Adani Energy Solutions also rallied up to 7% on the BSE during the session. However, those stocks later erased their intra-day gains and were trading on a mixed note as of 09:30 AM. At that time, Adani Green Energy, Adani Energy Solutions and Adani Power were in the negative zone, while Adani Total Gas, Adani Enterprises and Adani Ports were quoted flat. The price action showed that traders were responding quickly to headlines while also booking profits after sharp recent moves.

What the US cases were about, based on reported charges

The reports referenced an indictment announced by US prosecutors in November 2024. One description said the US Attorney’s Office in Brooklyn alleged in a five-count indictment that Adani and other defendants helped drive a $150 million bribery scheme in India to lock in solar-power contracts. Another reported version described the case as linked to an alleged $165 million bribery and fraud scheme tied to India’s largest solar power project. The coverage also included the allegation that the defendants concealed the scheme while raising funds from US investors. One excerpt cited from the indictment said the contracts were projected to generate more than $1 billion in profits after tax over an approximately 20-year period. The Adani Group has consistently denied the charges, according to the reports.

Recent run-up in Adani Group shares since April

The legal updates came after a strong rally in Adani Group stocks in recent weeks. Since April, Adani Group stocks have outperformed the market by rising up to 75%, as stated in the report. Among individual names, Adani Green Energy was cited as having gained 75%, while Adani Enterprises surged 54%. Adani Energy Solutions, Adani Ports and Special Economic Zone, and Adani Power were reported to have rallied between 35% and 50%. This performance helped set the context for Friday’s quick reaction, as stocks were already priced for improving sentiment. It also explains why intra-day gains were partially erased as the session progressed.

New York Times elements: counsel and US investment offer

The New York Times report added context on possible factors shaping the US government’s decision-making. It said Adani hired Robert Giuffra, described as one of US President Donald Trump’s personal lawyers. The report also said the group outlined a willingness to invest $10 billion in the US economy and create 15,000 jobs if the charges were dropped. Separately, a prior public statement attributed to Gautam Adani at the group’s annual general meeting in June last year said that no one from the Adani Group had been charged with violating the FCPA or conspiring to obstruct justice. These elements were presented as part of the broader narrative around jurisdiction, evidence, and engagement with US authorities.

Key data points investors tracked

Timeline of the reported legal developments

Why the developments matter for markets

For investors, the key issue is whether the reported steps translate into formal closure of at least part of the US legal overhang. The Bloomberg report suggested a potential DOJ decision on dropping charges, while the Adani Green Energy filing points to an active court process for a final judgment on consent. Friday’s early surge and subsequent mixed trade highlighted how quickly sentiment changes on legal headlines, especially after a sharp run-up since April. The developments also matter because the reporting said ending the cases could clear the way for the conglomerate to return to international capital markets. At the same time, the market reaction showed that participants are watching for confirmed outcomes, including the final judgment referenced in the exchange filing.

Conclusion

Adani Group shares moved sharply on Friday after media reports indicated the US Justice Department may drop criminal charges soon and the SEC may be nearing a settlement in a parallel civil case. Adani Green Energy’s exchange filing added that a request for entry of final judgment on consent has been filed, and the final judgment is awaited. Investors are likely to track any official DOJ announcement and the next court update in the EDNY matter for clarity on timelines and closure.