SYDNEY, Feb 10 — India’s Adani Group faced fresh concerns yesterday after financial index provider MSCI said it was reviewing the free float designation of some of its companies’ securities.
“Some investors follow MSCI index as a gauge,” said Neeraj Dewan, director at Quantum Securities. “Depending on the outcome of the MSCI review, we could see more pressure on select Adani group stocks.” “This determination has triggered a free float review of the Adani Group securities,” it added in a statement.
Adani Transmission ADAI.NS, Adani Total Gas ADAG.NS and Adani Power ADAN.NS were each down 5 per cent, while Adani Ports and Special Economic Zone APSE.NS was down nearly 3 per cent.
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