MSCI cuts some Adani group companies' free-float designations

📆 10/2/2023 02:25:00
📰 Reuters

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Index provider MSCI said it has cut the free-float designations of four securities of India's Adani group, a move which analysts have warned could impact their index weightings

Analysts had said a change in free float status could affect the weightings of MSCI index constituents, possibly triggering a shift by funds as many investments are aligned to such indexes.

Reporting by Rodrigo Campos in New York and Scott Murdoch; Editing by Muralikumar Anantharaman and Christopher CushingScott Murdoch has been a journalist for more than two decades working for Thomson Reuters and News Corp in Australia. He has specialised in financial journalism for most of his career and covers equity and debt capital markets across Asia and Australian M&A. He is based in Sydney.

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Gautam Adani facing another setback as key index probes free float of stocksThe billionaire has seen some $110 billion wiped off the value of seven firms in the group he founded.
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