Adani Transmission Ltd’s (ATL) environmental, social, and governance (ESG) evaluation has been placed under review by the global rating agency Standard and Poor’s (S&P) following the controversial Hindenburg report.
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New Delhi: Global rating agency Standard and Poor’s (S&P) has reportedly put Adani Transmission Ltd’s (ATL) environmental, social, and governance (ESG) evaluation under review. “We will closely monitor developments, including any investigations by the Indian regulators and any additional disclosures by the Adani group,” S&P said in a statement, according to a report by Business Standard.
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Earlier, the US-based short-seller Hindenburg Research released its report accusing Adani Group of ‘fraud’ and ‘manipulation’. Since then, Adani Group has lost over Rs 10 lakh crore. Even though Adani Enterprises made a 9 per cent recovery from the day’s low after the release of a robust Q3 performance, the market capitalisation of the conglomerate’s ten listed companies slipped by Rs 19,427 crore to Rs 8.79 lakh crore.
