Adani shares down 30%

February 03, 2023 11:46

Gautam Adani

Adani shares down 30 per cent in early trading.

This morning, S&P Dow Jones has said it will remove Adani Group's flagship firm Adani Enterprises from sustainability indices with effect from February 7 following a media and stakeholder analysis triggered by allegations of accounting fraud.

The move comes amid leading stock exchanges BSE and NSE putting three Adani Group companies -- Adani Enterprises, Adani Ports and Special Economic Zone and Ambuja Cements -- under their short-term additional surveillance measure framework.

Shares of Adani Ports tanked 10 per cent, Adani Transmission (10 per cent), Adani Green Energy (10 per cent), Adani Power (5 per cent), Adani Total Gas (5 per cent), Adani Wilmar (4.99 per cent), NDTV (4.98 per cent), ACC (4.24 per cent) and Ambuja Cements (3 per cent).

Billionaire Gautam Adani denied Friday that his rise to become Asia's richest man -- a title he has lost in a phenomenal stock rout -- was due to Prime Minister Narendra Modi, as shares in his conglomerate slumped again.

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