Adani Group: This foreign company gave a big blow to Adani Group, pulled out its entire ESG fund – jpmorgan investment arm sold whole esg funds of adani stocks
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JPMorgan Global Emerging Markets Research Enhanced Index Equity ESG UCITS ETF has sold over 70,000 shares in Adani Group’s cement company ACC Ltd, according to the report. He had these shares since May, 2021. Similarly, JPMorgan AC Asia Pacific ex Japan Research Enhanced Index Equity ESG UCITS ETF sold 1,350 shares. However, many big investment companies still have investments in ESG funds of Adani Group. In these BlackRock Inc. and the fund management units of Deutsche Bank AG and DWS Group. About this
Spokespeople for JPMorgan and BlackRock declined to comment.
Why is there an uproar
US short selling company Hindenburg Research released a report on 24 January against Adani Group. It was claimed that Adani Group had rigged the shares. Although the group has denied these allegations, it has led to a sharp fall in the group’s shares. Many stocks have even reached 52-week lows. There has been a steep decline of $150 billion in the group’s market cap. Due to this, there has also been a huge decline in the net worth of Gautam Adani, the chairman of the group.
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