Adani Green Energy share price gained up to 9% in morning trades on Monday. Adding to gains in last 3 sessions the the stock is up almost 50% in last 4 sessions. Whats driving the stock that is up almost 50% in last 4 sessions,

GQG Partners shares drop after UBS downgrade due to Adani Group ties, while Adani Green Energy faces uncertain future.

Adani Green shares on Monday zoomed 9 per cent after Gautam Adani's statement on the US indictment. He said that his company was committed to compliances and 'every attack makes us stronger'.

One of Japan's biggest banks, Mizuho Financial, expects the US allegations on the Adani Group not to have a long-lasting impact and it intends to continue supporting the group.

UBS also cut its target price on the firm from AU$3.30 to AU$2.30, and this marks the Swiss bank's first ever downgrade of the stock since its listing.

By Scott Murdoch SYDNEY (Reuters) -Shares of Australian-listed GQG Partners tumbled 13% on Monday after UBS downgraded the stock and said the firm may have lost A$600 million ($390 million) in funds under management in the two days following the indictment of Adani Group executives.