Adani Group companies experienced a decline in their share prices today, with Adani Enterprises witnessing the most significant drop. This downturn follows a Wall Street Journal report alleging that US authorities are investigating the group for potentially importing LPG gas from Iran.
Adani Group Share Decline
On June 3, 2025, the majority of Adani Group companies listed on the Indian stock market saw a decline in their share prices. Adani Enterprises’ share price fell to ₹2,452.70 on the BSE, marking the largest single-day drop. Eight out of the group's ten listed companies experienced negative trends.
Other companies experiencing share price drops included Adani Ports and Special Economic Zone, Adani Total Gas, Adani Green Energy, Adani Energy Solutions, Adani Power, NDTV, and Ambuja Cements. Only Edelweiss Wealth Limited (AWL) Agri Business and ACC showed minor gains.
US Investigation Report
According to a Wall Street Journal report, the US Department of Justice is investigating Adani Group companies. The report states that US authorities are investigating whether Adani companies imported LPG gas from Iran, potentially violating US sanctions.
The report also mentions monitoring the activities of several LPG tankers between the Persian Gulf and Mundra Port in Gujarat. These tankers are alleged to have employed specific strategies to circumvent sanctions and supply LPG to Adani Enterprises.
Adani Group's Response
In response to these allegations, the Adani Group clarified that its companies have not knowingly violated any international sanctions. The group informed the stock market that it adheres to all legal guidelines and that the allegations of LPG imports from Iran are baseless, false, and mischievous.
The company also stated its willingness to cooperate fully with any regulatory or investigative agency to confirm the facts and clarify any misconceptions.
