Fresh risk for Adani as MSCI probes free float of group stocks

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Fresh risk for Adani as MSCI probes free float of group stocks
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India’s Adani Group faces fresh concerns after financial index provider MSCI said it is reviewing the free float designation of some group company securities.

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In response to the MSCI statement, Hindenburg Research founder Nathan Anderson wrote on Twitter: “We view this as validation of our findings.”

Adani Transmission, Adani Total Gas, and Adani Power were each down 5%, while Adani Ports and Special Economic Zone were down nearly 3%. Sporadic protests have taken place in parts of the country as opposition parties demand investigations.

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