India's Adani Group shares show some recovery despite uncertainty over US bribery and fraud charges

The companies of billionaire Gautam Adani, one of Asia’s richest men, showed some signs of recovery on Friday even as controversy and uncertainty continued to roil the Indian tycoon’s businesses after he was indicted by U.S. prosecutors for bribery and fraud. Adani, a major power player in India perceived as close to Prime Minister Narendra Modi, was charged on Wednesday by U.S. prosecutors with securities fraud and conspiracy to commit securities and wire fraud. Adani stocks plunged by up to 20%. Experts say this is the biggest challenge yet for Adani, whose multibillion dollar empire had just about bounced back after it lost over $60 million in market value last year following allegations of stock price manipulation and fraud.