MSCI to drop Adani Transmission, Adani Total Gas from India index on May 31
Global index provider MSCI has dropped Adani Transmission and Adani Total Gas from its India index—a move that will result in selling worth Rs 3,200 crore ($390 million) in these two counters by exchange traded funds (ETFs). The change will become effective from May 31.
Interestingly, MSCI has said if these two Adani group stocks get locked in their lower trading limit for a cumulative 5 minutes on May 31, the deletion will take place at zero value. If not, the index provider will use the official closing price.
On Friday, shares of Adani Transmission closed at Rs 885, down 3.5 per cent over the previous day’s close, while those of Adani Total Gas declined 4.3 per cent to end at Rs 818.
