Adani Green Shares Rally, Rise Over 9% After Gautam Adani Responds To US Allegations

Adani Green Energy Ltd shares surged nine per cent in early trade on Monday, posting the stock's best session in nearly a year. The stock were trading at Rs 1,445 per share at the Bombay Stock Exchange.

Over the past year, Adani Green Energy's stock climbed by almost 27 per cent, with a notable jump of 45 per cent in the last week. The share price also hit its upper circuit limit of 20 per cent on Friday.

Adani Group Chairman Gautam Adani on Saturday responded to the legal matter involving the US Department of Justice as a challenge which the Group has faced "not for the first time".

"As most of you would have read, less than two weeks back, we faced a set of allegations from the US about compliance practices at Adani Green Energy. This is not the first time we have faced such challenges. What I can tell you is that every attack makes us stronger and every obstacle becomes a stepping stone for a more resilient Adani Group," Mr Adani had said at the 51st Gem and Jewellery Awards in Rajasthan's Jaipur.

Meanwhile, in early trade, Adani Energy Solutions shares were up 1.7 per cent to Rs 855 on the BSE, while Adani Power was trading over two per cent higher at Rs 566.