Adani Enterprises to be removed from Dow Jones sustainability Indices

Adani Enterprises’ Rs 20,000 crore FPO was called off after Hindenburg report, despite a full subscription. Gautam Adani said pushing ahead with the issue would have been not “morally correct” after a massive erosion in stock price.

Adani Enterprises along with other group companies have been in focus since a report from Hindenburg research alleging improper use of offshore tax havens and flagged concerns about the high debt and valuations of the seven listed Adani companies.

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Share price of Adani Enterprises took a fresh knock on February 3, a day after it was placed under National Stock Exchange’s Additional Surveillance Measure framework.

At 10 am, the stock was trading at Rs 1,252.20 apiece on the NSE, down by 22 percent. The stock is now down close to 60 percent in the past five trading sessions.

The ASM list is a list of securities that get monitored due to factors like price fluctuation, volatility, volume variance, etc.

Also Read: NSE puts Adani Enterprises, Adani Ports, Ambuja Cements under ASM framework amid stock rout