India's Adani Energy Solutions slides after US SEC move, Q3 profit drop

Adani Energy Solutions

23/01/2026 08:25

Updates

** Shares of Adani Energy Solutions ADAI.NS fall 10% to four-month low 832.4 rupees

** Stock falls in line with broader declines in Adani group shares after U.S. SEC sought court approval to serve summons on Gautam Adani and a group executive

** ADAI on track for its biggest single-day percentage fall since November 21, 2024

** Fall comes a day after the company reported a 1.7% y/y drop in Q3 consolidated net profit to 5.52 bln rupees ($60.2 mln)

** ICICI Securities says profit fell due to one-off tax benefit last year, while adjusted profit growth shows strong underlying performance

** Investec says smart meters drove co's consolidated growth, a sharp rise in transmission capex and commissioning of new projects strengthened earnings visibility

** Trading volume at 538,861 shares vs 30-day avg of 1.2 mln shares

** ADAI gained about 27% in 2025, stock down nearly 10% so far this year

($1 = 91.6562 Indian rupees)

 (Reporting by Surbhi Misra in Bengaluru)

 ((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))