Adani Green: US SEC civil case involves directors, not the company
ADANIGREEN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.9 pts more than Nifty 100 and 2.3 pts more than its Power Generation peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Adani Green Energy told stock exchanges that a US SEC civil complaint filed against its directors Gautam Adani and Sagar Adani in a New York court does not name the company as a party. No charges have been brought against Adani Green, and there are no FCPA bribery or corruption charges against the directors. The SEC recently applied for alternate service of summons. AGEL says the media report does not trigger SEBI disclosure rules and has no impact on its business or operations.
No direct impact on AGEL since the company is not a party. Could keep Adani group shares volatile due to ongoing US case.