Norway wealth fund has sold its stakes in Adani companies

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Norway's sovereign wealth fund has sold its stakes in three Adani Group companies worth just over $200 million since the start of the year, the world's largest stock investor said on Thursday.

"Since year-end, we have further reduced in Adani companies. We have no exposure left," Christopher Wright, the fund's head of ESG risk monitoring, told a news conference.

"We have monitored Adani for many years issues, many on their handling of environmental risks," he said.by some $110 billion after a scathing Jan. 24 report by U.S. short seller Hindenburg Research accused the conglomerate of improper use of offshore tax havens and stock manipulation.Norway's sovereign wealth fund at the end of 2022 held a stake in Adani Total worth $83.6 million, a stake in Adani Ports worth $63.4 million and a stake in Adani Green Energy of $52.7 million.

 

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'We have monitored Adani for many years (on ESG) issues, many on their handling of environmental risks,'

Great. That means somebody has bought it! Let more of this happen. No problem. Most of ADANI companies are blue chip and bellwether. Only short term investors likely get hurt a bit. That too will not pain much.

First the links to Bitconnect, now this. This time the absurd corruption might destabalize India.

Until adani refused to answer the valid questions, These things will continue to happen.

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