Shares of Adani group companies tumbled on Monday, led by losses in Adani Transmission and Adani Total Gas, which were locked in their 5 per cent lower circuits at Rs 949.30 and Rs 872.35, respectively, on the BSE.
The sharp decline in the two stocks came as a result of global index provider MSCI’s decision to reduce the free float of the duo in its index review this month.
In a release on Friday, the index provider said it now sees the free float for Adani Total Gas and Adani Transmission at 14 per cent and 10 per cent, respectively, down from 25 per cent.
