Adani Ports, Adani Enterprises: Why are Adani Group shares in focus today?

India Today

4 days ago

Adani Group said it has no links to the vessels mentioned in the report. Adani denies report linking it to Iranian LPG shipments
Shares of Adani Ports and Adani Enterprises fall
Other group company stocks also decline marginally
Shares of Adani Enterprises Ltd (AEL), Adani Ports and Special Economic Zone (APSEZ), and other companies within the Adani Group came under pressure on Tuesday after a Wall Street Journal (WSJ) article alleged links between Adani entities and Iranian liquefied petroleum gas (LPG) shipments. The Adani Group has firmly rejected the report, calling it "baseless and mischievous", and stated it has "no knowledge of any investigation by US authorities."
As of 9:41 am, both Adani Ports and Adani Enterprises were the top losers on the NSE Nifty50, down 1.5% each. Other companies in the Adani portfolio also saw marginal declines in early trade.
In a detailed statement, the conglomerate refuted the claims made by the WSJ. 'Adani categorically denies any deliberate involvement in sanctions evasion or trade of Iranian-origin LPG,' the group said, adding that any suggestion of the group knowingly breaching US sanctions is 'false, defamatory, and intended to damage the Adani Group's reputation.'
Adani Group further clarified that none of its ports handle Iranian cargo, be it from Iran, under the Iranian flag, or managed by Iranian entities.
The company also emphasised that its LPG-related operations are minor within its business portfolio. For FY2025, the LPG segment contributed $171.2 million, or just 1.46%, of AEL's total consolidated revenue of $11.73 billion.
'All LPG transactions by Adani entities comply fully with domestic and international laws, including U.S. sanctions,' the group said, highlighting that its LPG is sourced only from reputable suppliers after rigorous due diligence and KYC procedures. These checks ensure none of the suppliers are listed by the US Office of Foreign Assets Control (OFAC).
AEL also noted that it does not manage LPG shipments directly. 'The logistics of LPG trade are managed by well-established third-party international suppliers and logistics firms, which manage shipping in accordance with global compliance standards. The supplies are under valid contracts with the supplier having specific clauses that the product should be from non-sanctioned countries,' said Adani Group.
To ensure compliance, the group said it monitors all vessel activity via S&P Global's Market Intelligence Network (MINT), which flags any violations. Addressing the specific shipment cited in the WSJ report, Adani clarified that it was 'a regular commercial transaction facilitated by third-party logistics, with Sohar, Oman, listed as the port of origin.'
Adani Group said it has no links to the vessels mentioned in the report. 'We do not own, operate, or track the vessels cited in the report, such as SMS Bros or Neel, and cannot comment on their operations," said the company.
'We have met all obligations expected of a bona fide importer,' the statement concluded.
Shares of Adani Enterprises Ltd (AEL), Adani Ports and Special Economic Zone (APSEZ), and other companies within the Adani Group came under pressure on Tuesday after a Wall Street Journal (WSJ) article alleged links between Adani entities and Iranian liquefied petroleum gas (LPG) shipments. The Adani Group has firmly rejected the report, calling it "baseless and mischievous", and stated it has "no knowledge of any investigation by US authorities."
As of 9:41 am, both Adani Ports and Adani Enterprises were the top losers on the NSE Nifty50, down 1.5% each. Other companies in the Adani portfolio also saw marginal declines in early trade.
In a detailed statement, the conglomerate refuted the claims made by the WSJ. 'Adani categorically denies any deliberate involvement in sanctions evasion or trade of Iranian-origin LPG,' the group said, adding that any suggestion of the group knowingly breaching US sanctions is 'false, defamatory, and intended to damage the Adani Group's reputation.'
Adani Group further clarified that none of its ports handle Iranian cargo, be it from Iran, under the Iranian flag, or managed by Iranian entities.
The company also emphasised that its LPG-related operations are minor within its business portfolio. For FY2025, the LPG segment contributed $171.2 million, or just 1.46%, of AEL's total consolidated revenue of $11.73 billion.
'All LPG transactions by Adani entities comply fully with domestic and international laws, including U.S. sanctions,' the group said, highlighting that its LPG is sourced only from reputable suppliers after rigorous due diligence and KYC procedures. These checks ensure none of the suppliers are listed by the US Office of Foreign Assets Control (OFAC).
AEL also noted that it does not manage LPG shipments directly. 'The logistics of LPG trade are managed by well-established third-party international suppliers and logistics firms, which manage shipping in accordance with global compliance standards. The supplies are under valid contracts with the supplier having specific clauses that the product should be from non-sanctioned countries,' said Adani Group.
To ensure compliance, the group said it monitors all vessel activity via S&P Global's Market Intelligence Network (MINT), which flags any violations. Addressing the specific shipment cited in the WSJ report, Adani clarified that it was 'a regular commercial transaction facilitated by third-party logistics, with Sohar, Oman, listed as the port of origin.'
Adani Group said it has no links to the vessels mentioned in the report. 'We do not own, operate, or track the vessels cited in the report, such as SMS Bros or Neel, and cannot comment on their operations," said the company.
'We have met all obligations expected of a bona fide importer,' the statement concluded. Join our WhatsApp Channel