MSCI cuts some Adani group companies’ free-float designations

Index provider MSCI said it has cut the free-float designations of four securities of Adani group, a move which analysts have warned could impact their index weightings.

MSCI said in a statement it has reduced the free floats of Adani Enterprises, Adani Total Gas, Adani Transmission and ACC.

The remaining companies’ free floats will remain the same.

Adani did not immediately respond to a request for comment from Reuters.

The four companies for which the free float designation change was announced had a combined 0.4% weighting in the MSCI emerging markets index as of Jan. 30.