Adani Enterprises Will Be Out Of S&P Dow Jones, The Decision Was Taken Due To A Fall In Shares
Adani Enterprises will be out of S&P Dow Jones, the decision was taken due to a fall in shares.
Adani Enterprises, the flagship company of Adani Group, will be removed from the sustainability indices of S&P Dow Jones in the coming days.
This decision by US regulators has been taken following allegations of alleged accounting irregularities from the media. After this news, pressure is being seen on the shares of Adani Group.
S&P Dow Jones issued a statement saying it would remove Adani Enterprises, the flagship company of the Adani Group, from its sustainability index on February 7 due to allegations of accounting irregularities.
Adani Group’s three shares in the ASM framework.
Earlier, three shares of Adani Group – Adani Enterprises, Adani Port and Special Economic Zone, and Ambuja Cement were placed in the ASM framework by the Indian stock exchanges BSE and NSE.
Adani Group shares under pressure.
After this news, pressure is being seen in the shares of Adani Group since morning. Adani Enterprises shares fell 15 percent in early trade on BSE.
Let me tell you, earlier on Thursday Adani Enterprises fell by 26 percent and on Wednesday by 28 percent.
Talking about the last six trading sessions, the market valuation of Adani Group has declined by Rs 8.76 lakh crore.
At the same time, the FPO worth 20,000 crores from Adani Enterprises has also been withdrawn and the company has decided to return the investors’ money.
Let us tell you, the American research firm Hindenburg had come out with a report about the Adani Group, in which the group was accused of keeping share prices high and accounting irregularities.
All these allegations were rejected by Adani Group which said that the group follows every law.
Adani Enterprises FPO: Gautam Adani’s statement after the cancellation of FPO – Interest of investors paramount.
After withdrawing the FPO (Adani Enterprises FPO Cancelled) of Adani Group’s flagship company Adani Enterprises, Chairman Gautam Adani released a video, in which the decision taken by the company has been explained in detail.
Adani said that there were sharp ups and downs in the market yesterday. Due to this, the FPO was withdrawn by the board of the company.
The Board is of the view that it is not ethically sound to go with the FPO after the share price has fallen.