Adani: Shares of Gautam Adani’s businesses plunged further on Thursday after an attempt by the Indian billionaire to reassure panicking investors failed to halt a stock market meltdown that has wiped $100 billion off the value of his conglomerate. S&P Dow Jones Indices said it would remove Adani Enterprises from widely used sustainability indices, effective February 7, 2023. In a note, S&P said Adani Enterprises would be removed from the indices. The news comes a day after the National Stock Exchange (NSE) put three Adani stocks — Adani Enterprises, Adani Ports, and Ambuja Cements — under the additional surveillance measure (ASM) framework from February 3, 2023. Investors will have to pay 50% or existing margin, whichever is higher, subject to cap of 100%, the exchange said. The unprecedented crash in the value of Adani Group shares started when an American short seller, Hindenburg Research, accused the conglomerate of fraud and manipulating stock markets.
#GautamAdani #HindenburgResearch #AdaniStocks #NSE #DowJones #AdaniShares #AdaniEnterprises #StockMarket #Adani #NationalStockExchange #NSE #AdaniPorts #AmbujaCement #AdaniGroup #HindenburgResearch #HindenburgReport#HWNews
As an independent media platform, we do not take advertisements from governments and corporate houses. It is you, our readers, who have supported us on our journey to do honest and unbiased journalism. Please contribute, so that we can continue to do the same in future.
