All 11 Adani group stocks closed in green today, with the cumulative market cap rising by ₹1.2 lakh crore to ₹12.6 lakh crore.

Adani Group stocks gained momentum in Wednesday’s trade, climbing up to 7%, after the group clarified allegations concerning US Foreign Corrupt Practices Act (FCPA) violations. The surge comes as Adani Green Energy Ltd (AGEL) issued a statement dispelling claims of bribery charges against key executives,

Shares of Adani Green Energy and other Adani group stocks such as Adani Power , Adani Energy Solutions and Adani Enterprises rallied after being hammered for the past few days after the group clarified that there are no bribery charges against Gautam Adani and other top group executives.

Indian shares ended higher on Wednesday, led by a rebound in Adani Group stocks after its subsidiary, Adani Green, clarified that key officials had not been charged with violations of the U.S. Foreign Corrupt Practices Act in last week's indictment.

The recent bribery charges by US authorities, made public last week, have led to several countries revisiting or cancelling deals with the group.

Hundreds of supporters of India’s main opposition party have protested against billionaire Gautam Adani, who was recently indicted in the U.S. for alleged fraud and bribery, and accused the government of protecting the Indian coal magnate whose companies’ shares have plunged since the charges last week.