Adani Group Shares Up 11%, Added ₹96,000 Cr M-Cap As US Court Accepted Plea

Adani Group shares surged up to 11% on 8 April 2026 after a US court agreed to hold a pre-motion conference on a plea filed by lawyers for Gautam Adani and Sagar Adani to seek dismissal of a securities fraud case brought by the US Securities and Exchange Commission over 15 months ago.

The rally was broad-based. At 3:30 pm, Adani Green Energy and Adani Total Gas shares rose about 11% and 7.5%, respectively. Adani Enterprises gained around 8.7%. Adani Energy Solutions surged by over 9%, and stocks like Adani Ports, Adani Power and ACC Limited rose 3.5–5.4%.

The surge added nearly ₹96,000 crore to the group’s total market capitalisation in a single session.

What Is The Case And What Did The Court Say?

The US Securities and Exchange Commission filed a lawsuit alleging that Gautam Adani and others engaged in a $250 million bribery scheme to get power contracts.

Additionally, the regulator said that the business made false disclosures by failing to disclose these claims while it was collecting funds from US investors. The court has now agreed to hear a pre-motion conference. This is an early procedural step before a formal request to dismiss the case is filed.

Lawyers for Gautam Adani and Sagar Adani have indicated that they intend to seek dismissal by 30 April.

What Reasons Are The Adanis Seeking Dismissal?

The defence has questioned whether the US court has jurisdiction over the matter. They argue that the matter involves Indian entities and that the transactions were carried out outside the United States. According to them, the US court does not have personal jurisdiction over the defendants.

The lawyers also said the case is “extraterritorial” in nature. The bonds in question were issued under SEC Rule 144A and Regulation S, which allow securities to be sold to large institutional investors and to investors outside the US without full registration.

Adani Green Energy had raised $750 million through such a structure. The defence maintains that the company sold these bonds to non-US underwriters, and any later sale to US investors was not handled by them.

They have also stated that neither Gautam Adani nor Sagar Adani directly authorised or participated in selling these bonds in the US.

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What Else Drove The Rally In Adani Stocks?

Markets also got support from global cues. News of a ceasefire between the US and Iran helped ease concerns around oil supply.

Crude prices cooled off after this. Lower oil costs tend to support sectors like power, cement and logistics, which lifted overall sentiment.

Adani Ports and Special Economic Zone also remained in focus. The company runs the Haifa Port in Israel, which it bought for $1.13 billion in 2022. Stability in the region reduces risk for such overseas assets.

The next step in the legal process will be important. Markets will track how the court proceeds with the dismissal request.

Sources:

Mint

The Economic Times