New Delhi: S&P Dow Jones has said it will delist Adani Group’s flagship company Adani Enterprises From the Sustainability Index on 7 February following a media and stakeholder analysis prompted by allegations of accounting fraud. This step has been taken amid the three major stock exchanges BSE and NSE. Adani group companies Adani Enterprises, Adani Ports and Special Economic Zone and Ambuja Cements – under their short-term Additional Monitoring Measures (ASM) framework.
“Adani Enterprises will be removed Dow Jones Stability Index S&P Dow Jones Indices said in a statement, following media and stakeholder analysis triggered by allegations of accounting fraud.
It will make changes to the Dow Jones Sustainability Index, which will take effect prior to the February 7 open.
Shares of Adani Enterprises were trading 15 per cent lower on the BSE in morning trade on Friday. The counter had fallen by 26 per cent on Thursday and over 28 per cent on Wednesday.
10 listed Adani Group The firms have faced a combined loss of over Rs 8.76 lakh crore in the last six trading sessions.
Adani Enterprises on Wednesday said it will not go ahead with its Rs 20,000-crore follow-on public offer (FPO) and return the proceeds to investors.
Shares of Adani Group declined after a report by US-based Hindenburg Research alleged several allegations including fraudulent transactions and manipulation of share prices in the Gautam Adani-led group.
The Adani Group has dismissed the allegations as false, adding that it complies with all laws and disclosure requirements.
“Adani Enterprises will be removed Dow Jones Stability Index S&P Dow Jones Indices said in a statement, following media and stakeholder analysis triggered by allegations of accounting fraud.
It will make changes to the Dow Jones Sustainability Index, which will take effect prior to the February 7 open.
Shares of Adani Enterprises were trading 15 per cent lower on the BSE in morning trade on Friday. The counter had fallen by 26 per cent on Thursday and over 28 per cent on Wednesday.
10 listed Adani Group The firms have faced a combined loss of over Rs 8.76 lakh crore in the last six trading sessions.
Adani Enterprises on Wednesday said it will not go ahead with its Rs 20,000-crore follow-on public offer (FPO) and return the proceeds to investors.
Shares of Adani Group declined after a report by US-based Hindenburg Research alleged several allegations including fraudulent transactions and manipulation of share prices in the Gautam Adani-led group.
The Adani Group has dismissed the allegations as false, adding that it complies with all laws and disclosure requirements.