Adani Group stocks dipped on Monday following a report that the U.S. is expanding its probe into the conglomerate amid bribery concerns. The investigation is zeroing in on Gautam Adani, the group’s founder, and his companies for potentially offering bribes to Indian officials to snag favourable deals in energy projects.

What Happened: Adani Enterprises, the group’s flagship company, saw its stock fall nearly 4% early in the day. Other key parts of the Adani empire, including Adani Ports and Special Economic Zone, Adani Power, Adani Green Energy, and Adani Energy Solutions, also experienced declines between 2% and 3%, outstripping the Nifty 50 index’s 0.3% drop.

According to Bloomberg, this scrutiny by the U.S. Attorney's office for the Eastern District of New York and the Department of Justice's fraud unit puts Adani in the spotlight, it also involves Azure Power, another Indian renewable energy firm. Adani, however, has stated it’s unaware of any investigation into the company or its leader.

The conglomerate is also said to be planning massive investments in India with a major focus on green energy and infrastructure development.

This unsettling news arrives over a year after Hindenburg Research accused Adani of fraud and market manipulation, claims that Adani refuted and was later dismissed by India's securities regulator.

See also: Paytm Shares Continue Recovery: Brokerage Sees Over 30% Rally Ahead

Despite a massive $100 billion loss in market value following Hindenburg’s allegations, Adani’s stock had bounced back, even exceeding pre-Hindenburg report levels. Yet, Adani’s dollar-denominated bonds saw significant declines following the latest Bloomberg report, reigniting concerns tied to the previous allegations.

Price Action: Here is how Adani Group stocks were trading as the market opened on Monday.

• ACC shares traded 1.93% lower at ₹2,455.15.
• Adani Energy Solutions traded 3.13% lower at ₹1,012.00.
• Adani Enterprises share price traded 2.7% lower at ₹3,048.00.
• Adani Green Energy traded 1.09% lower at ₹1,881.00.
• Adani Ports share price traded 2.46% lower at ₹1,251.00.
• Adani Power's share price traded 1.35% lower at ₹524.20.
• Adani Total Gas traded 4.04% lower at ₹950.80.
• Adani Wilmar shares traded 1.65% lower at ₹338.75.
• Ambuja Cements traded 2% lower at ₹500.40.
• New Delhi Television shares traded 1.07% lower at ₹216.70.

Read next: Why Reliance Shares Jumped Back In Green After 3 Days