Adani Enterprises shares to be out of Dow Jones Sustainability Indices; Read full statement

After inclusion of three Adani group stocks — Adani Enterprises, Adani Ports and Special Economic Zone and Ambuja Cements in ASM (additional surveillance measure) list for short term, Adani Enterprises shares have received another jolt from the US markets.

Shares of Adani Enterprises might soon be dropped from the Dow Jones Sustainability Indices, with removal taking place before the market opens on Tuesday, February 7, 2023. The US markets announced the information along with their index.

Also Read | Hindenburg row: From MSCI scrutiny to cancelled FPO, 7 major setbacks faced by Adani Group

"Adani Enterprises (XBOM: 512599) will be removed from the Dow Jones Sustainability Indices following a Media & Stakeholder Analysis triggered by allegations of stock manipulation and accounting fraud," the announcement of the removal of Adani Enterprises shares from the S&P Dow Jones Sustainability Indices stated.

The statement for the index continued, "S&P Dow Jones Indices will make the following modifications to the Dow Jones Sustainability Indices, effective prior to the open on Tuesday, February 7, 2023."

Also read: Stocks from Adani Enterprises keep Nifty in red; Sensex trading flat

The S&P Dow Jones Sustainability Index's action follows a collapse in the value of the firms owned by billionaire Gautam Adani after a damning analysis by US-based short-seller Hindenburg Research.

The value of Gautam Adani's company has lost $100 billion due to the stock market collapse, which the Indian billionaire tried to stop by reassuring fearful investors about. When American short seller Hindenburg Research accused the conglomerate of deception and stock market manipulation, the unheard-of decline in the value of Adani Group shares began.

Also read: Adani pulls the plug on Rs 20,000 crore FPO, cites investor interest

• Adani
• Dow Jones
• Dow Jones Index
• Dow Jones Sustainability Indices
• Gautam Adani
• fraud
• stock manipulation