A US judge dismissed the criminal charges against Gautam Adani, founder of Adani Group, accused of bribery and securities fraud. Prosecutors had indicted Adani and seven other executives in November 2024, alleging they promised over $250 million in bribes to Indian officials to win solar energy contracts. The US Justice Department signaled in May it would drop the case, arguing it was primarily foreign and hard to prove. Despite the dismissal, six of seven Adani-branded stocks fell on Tuesday on the Mumbai Stock Exchange, with losses reaching 1.66% for AWL Agri Business. The absence of a notable relief rally shows the market had already moved past the courtroom outcome.
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