Big blow to Gautam Adani: Adani Enterprises will be out of Dow Jones on February 7
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New Delhi : Gautam Adani, one of the richest businessmen of India, has suffered a major setback. It is reported that Adani Enterprises will be excluded from the US stock market S&P Dow Jones Index on 7th February. Adani Group’s companies exiting Dow Jones also include Adani Ports, Special Economic Zone and Ambuja Cement. This action has been taken by the US stock market Dow Jones to these companies of Adani Group after the fall in the shares of Gautam Adani’s companies after the report of short seller Hindenburg Research. In the announcement made by the index of the American market, it has been said that from 7 February 2023, the shares of Adani Enterprises will be removed from the Dow Jones Stability Index.
Decision after disturbances in shares
In the announcement made by Dow Jones, the leading index of the US stock market, it has been said that this decision has been taken after the news of disturbances in the shares of Adani Group. The company’s shares will be excluded from the index on 7 February 2023. According to media reports, this decision has been taken by Dow Jones after the huge fall in the shares of Adani Group after the Hindenburg report.
NSE monitors Adani Enterprises shares
According to media reports, the news of Adani Enterprises’ shares being pulled out of the US stock market Dow Jones came to the fore when the National Stock Exchange (NSE) delisted three Adani stocks (Adani Enterprises, Adani Ports and Ambuja Cements) a day earlier. was kept under additional monitoring measure. According to NSE’s website, there will be additional surveillance measures (ASM) on securities with monitoring concerns based on objective parameters price/volume variation, volatility etc.
Allegations of stock rigging and accounting fraud
Since the release of the report of short-seller Hindenburg Research, the shares of Gautam Adani-led Adani Group companies have continued to decline. Biggest fraud in the history of corporate on Adani Group. Has been accused of doing, including stock rigging and accounting fraud over the decades. Announcing the decision, S&P Dow Jones said that Adani Enterprises (XBOM: 512599) will be removed from the Dow Jones Sustainability Index following media and stakeholder analysis.
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