Gautam Adani Faces U.S. Indictment in Bribery Scandal

Indian billionaire Gautam Adani and seven other executives have been indicted in New York by U.S. prosecutors for their alleged involvement in a massive $250 million bribery scheme aimed at securing contracts worth billions in India. The charges encompass multiple counts of fraud and bribery, with arrest warrants issued for Adani and his nephew, Sagar Adani. These legal actions also reflect on international business practices, particularly concerning the enforcement of anti-corruption laws across borders.
#ADANIENT has started wave (C) of Flat corrective pattern on downside, as long as Gap area of 2850 is protected expecting an impulse down, this can drag banking stocks also eventually! If wave (C) is not truncated we can expect it to reach the lows of wave (A) which is near 1085 levels. Next few days will be important for Adani group stocks which will further confirm if overall sentiment is improving or getting worse post the verdict by US Court Interesting juncture for Indian equity markets!

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