Adani Group stocks continued their rally on the bourses, with shares of key entities such as Adani Energy Solutions Ltd, Adani Green Energy Ltd, and Adani Power Ltd posting significant gains. The sharp upward movement comes after the group's clarification on allegations of involvement in a US bribery case, which reassured investor confidence.

Adani Energy Solutions Ltd saw its shares rise 6.55% to Rs 704.55, while Adani Green Energy Ltd climbed 5.51% to Rs 1,043.85 in intraday trading. Meanwhile, other Adani group stocks, including Adani Enterprises Ltd and Adani Total Gas Ltd, also registered gains of up to 5%.

ASM Measures on Key Stocks

Notably, Adani Energy Solutions Ltd and Adani Green Energy Ltd have been moved to ASM Stage-1 (Additional Surveillance Measures) by the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). This surveillance framework is aimed at curbing excessive volatility and speculative trading in high-risk stocks.

ASM measures include restrictions like reduced intraday leverage and higher margin requirements for trading. Despite these constraints, investor sentiment remains buoyant.

Clarification on US Bribery Allegations

The recent rally follows Adani Group's detailed clarification dismissing allegations of bribery involving foreign officials, as reported in certain US-based publications. The group stated that these allegations were unsubstantiated and based on misrepresentation, easing concerns among domestic and international stakeholders.

Market Sentiment & Broader Implications

Market analysts believe the recovery in Adani Group stocks reflects a combination of robust fundamentals and confidence stemming from the group's transparency regarding the allegations.

Moreover, the sectoral momentum and optimistic investor sentiment signal a potential short-term bullish phase for the group’s entities, provided no further adverse developments occur.

The focus remains on whether the ASM restrictions will temper volatility or if the ongoing rally persists in the face of these measures.

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