News Formal

Gautam Adani facing another setback as key index probes free float of stocks

  • 📰 nypost
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 67%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

The billionaire has seen some $110 billion wiped off the value of seven firms in the group he founded.

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

Billionaire Gautam Adani has seen some $110 billion wiped off the value of seven firms in the group he founded.India’s opposition parties on Thursday heckled Prime Minister Narendra Modi as he spoke in the upper house of parliament and demanded an investigation into the allegations against the Adani Group.

Free float is defined as the proportion of outstanding shares considered available for purchase in public equity markets by international investors.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 91. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Indian shares rise after RBI rate hike; Adani stocks jumpIndian shares held steady on Wednesday after the Reserve Bank of India delivered a smaller interest rate hike as widely expected, while embattled Adani Group shares recouped losses for a second straight day.
Source: Reuters - 🏆 2. / 97 Read more »