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India's Adani Green Energy recoups losses related to US indictment

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  India's Adani Green Energy rose about 8% on Monday and recouped all stock losses related to U.S. indictment of group's billionaire founder Gautam Adani over an alleged $265 million bribery scheme.

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Adani Green Energy, part of the Adani Group, has recovered from losses incurred following a U.S. indictment related to bribery allegations against its founder, Gautam Adani. The company's shares rose by 10% after it announced a 30% increase in operational capacity to 8,478 megawatts (MW) in the first nine months of the fiscal year. This growth was driven by the addition of 1,154 MW of solar-wind hybrid capacity and 308 MW of solar capacity. The recovery in stock value also reflects investor confidence in the company's robust project pipeline and its commitment to expanding its renewable energy portfolio, despite the legal challenges faced by its leadership.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/energy/indias-adani-green-energy-recoups-losses-related-us-indictment-2024-12-02/ ]