Adani Group stocks today: All 10 Adani group companies trade lower. Here's why

Adani Group share price today: Adani Enterprises Ltd fell nearly 4 per cent in early trade, while Adani Ports and Special Economic Zone Ltd lost nearly 3%.

Adani Group share price today: Shares of all 10 Adani group companies traded lower today (March 18). This comes after Bloomberg reported that the US government widened its investigation of Adani Group over suspicions of bribery. Adani Enterprises Ltd fell nearly 4 per cent in early trade, while Adani Ports and Special Economic Zone Ltd lost nearly 3 per cent. Adani Wilmar Ltd and Adani Power Ltd were down over a per cent and Adani Total Gas Ltd, Adani Energy Solutions Ltd, Adani Green Energy Ltd, and Adani Energy Solutions Ltd were trading 2-3 per cent lower.

Adani Group share price today: The logo of the Adani Group seen on the facade of its Corporate House on the outskirts of Ahmedabad. (Reuters)

What report claimed on Adani Group?

Bloomberg reported that the US government was looking into the conduct of Adani Group Chairman Gautam Adani. The US officials are also exploring whether Adani entities or affiliates of the company were involved in bribing officials for preferential treatment, the report claimed.

The investigation is being handled by the US Attorney's office for the Eastern District of New York and the Department of Justice's fraud unit. Although, the Adani Group said it was not aware of any investigation against the firm or its founder.

Adani Group Hindenburg report

Last year, short-seller Hindenburg Research accused Adani Group of fraud and market manipulation- allegations which have been denied by the conglomerated which was also cleared by the Securities and Exchange Board of India.

Adani Group's performance in markets today

Shares of Adani Enterprises were 2.2 per cent down at Rs. 3,065 which has gained nearly 70 per cent in the past year. Adani Ports was down by nearly 3 per cent on March 18 while it has gained over 87 per cent in the past year.