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Adani Group Stock Update: Now the Adani group has suffered a setback from the US stock market. It has been decided to remove Adani Enterprises, the flagship company of the Adani Group, from the Dow Jones Sustainability Index. Adani Enterprises will not trade in this index from 7 February 2023. The American stock market has informed about this change in its index.
On the removal of Adani Enterprises from the S&P Dow Jones Sustainability Index, the index announcement said that Adani Enterprises (XMOB:52599) will be removed from the Dow Jones Sustainability Index. It was said in the statement that after the allegations of rigging and accounting fraud in the stock, it has been decided to remove it from the index. S&P Dow Jones is going to change its Sustainability Index from 7 February 2023. This decision of Dow Jones has come after the Hindenburg report, after the shares of Adani Group were heavily beaten.
Earlier on Thursday, the National Stock Exchange (NSE) had decided to put 3 companies of Adani Group in the Additional Surveillance Margin Framework (ASM). These 3 companies of Adani Group include Adani Enterprises, Adani Port and Ambuja Cement. Putting in ASM means that 100% upfront margin will be required for intraday trading as well, this will put some curb on short selling. The National Stock Exchange has taken the stock to reduce the volatility in the shares of Adani Group, but on Friday also the stock is trading with a huge fall.
In Friday’s trading session, Adani Enterprises is trading at Rs 1017 with an intraday fall of 35 per cent. Adani Green Energy is trading down by 10 percent, Adani Ports by 11 percent, Adani Power by 5 percent, Adani Total Gas by 5 percent, Adani Transmission by 10 percent, Adani Wilmar by 5 percent.
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