Shares of India's Adani Group companies plunged after its billionaire chair Gautam Adani was indicted in a New York federal court. The 62-year-old billionaire and the other defendants are accused of paying over $250 million in bribes to Indian government officials to secure solar energy contracts that could generate more than $2 billion in profits.

Indian energy mogul Gautam Adani, an ally of Prime Minister Narendra Modi, was indicted in New York on bribery charges involving solar energy supply contracts.