MSCI cuts some Adani group companies’ free-float designations By Reuters
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© Reuters. FILE PHOTO-A logo of the Adani Group is seen on a commercial complex in Mumbai, India, February 7, 2023. REUTERS/Francis Mascarenhas
By Rodrigo Campos and Scott Murdoch
SYDNEY (Reuters) -Index provider MSCI said it has cut the free-float designations of four securities of India’s 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 the Associated Cement Companies.
The remaining companies’ free floats will remain the same.
The changes come into effect on March 1.
Adani group did not immediately respond to a request for comment.
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