Adani Group shares fall following MSCI’s review of its free float, Adani Enterprises drops 15%

MSCI announced that any changes to the free float and market capitalisation of Adani Group stocks, which will impact the calculation of these figures, will be implemented and announced as part of its February index review, set to be released on Thursday.

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Shares of Adani Group companies began trading lower on February 9, following a two-day recovery. The drop was prompted by MSCI’s announcement of a review regarding the number of Adani Group-linked shares that are readily available for trading on public markets.

All 10 stocks of the Adani Group faced a decline, with the leading company, Adani Enterprises Ltd, experiencing a significant drop of up to 15 percent. The decline followed a substantial increase of 35 percent in the previous two days.

The other group stocks that witnessed decline are — Adani Ports lost 7 percent, Adani Power fell 5 percent, Adani Transmission 5 percent, Adani Total Gas Ltd 5 percent, Adani Green Energy 5 percent, ACC declined 3.7 percent, Ambuja Cement 6.3percent and NDTV 3.7 percent.

MSCI announced that any changes to the free float and market capitalisation of Adani Group stocks, which will impact the calculation of these figures, will be implemented and announced as part of its February index review, set to be released on February 9.