The weighting of Adani Enterprises will be reduced by 30 basis points to 0.5% in the MSCI Global Standard Index, Nuvama Wealth Management analyst Abhilash Pagaria said in a note, based on his calculations. The weightings on the other three stocks will also come down, he said, adding the move would result in hundreds of millions of dollars in outflows from these stocks.
MSCI Inc. has cut its assessment of the number of shares of four Adani Group companies considered freely tradable, a move analysts say will result in lower weightings for the stocks in MSCI’s indexes.
MSCI said in response to a Bloomberg query that shares held by certain Adani investors should no longer be designated as freely tradable in the public market and it will implement free float changes on Adani Enterprises Ltd., Adani Transmission Ltd., Adani Total Gas Ltd. and ACC Ltd., effective Feb 28.
