Adani Enterprises shares removed from Dow Jones Sustainability Indices

Hindenburg Research on January 24 accused the Adani group of using offshore shells for money laundering and fraud

Under fire following allegations of fraud and stock manipulation, the Adani group has received another jolt from the US markets. The group's flagship company Adani Enterprises has been removed from the Dow Jones Sustainability Indices effective February 7.

According to a note issued by S&P Dow Jones Indices, home to iconic financial market indicators, the decision to remove Adani Enterprises was taken "following a media & stakeholder analysis".

"Adani Enterprises (XBOM: 512599) will be removed from the Dow Jones Sustainability Indices following a media & stakeholder analysis triggered by allegations of stock manipulation