Adani Ports slips 6% as firm removed from S&P sustainability index

Shares of Adani Ports and Special Economic Zone, on Tuesday, fell 6 per cent to Rs 702 on the BSE after S&P Dow Jones Indices said it has removed the company from its sustainability index due to the firm’s business ties with Myanmar’s military which is accused of human rights abuses after a coup this year.

The changes will be made to the index prior to the open on Thursday, April 15, S&P Dow Jones Indices said in a statement.

The company is building a $290 million port in Yangon on land leased from the military-backed Myanmar Economic Corporation (MEC),