Three Adani stocks could face MSCI axe in May as sell-off tops $400 mn

The stocks on watch are Adani Power, Adani Total Gas and Adani Transmission; analyst says Adani Green Energy may also get deleted from index

Adani, Adani Group
Photo: Bloomberg
BS Reporter Mumbai
1 min read Last Updated : Feb 15 2023 | 6:17 PM IST
Adani Power, Adani Total Gas and Adani Transmission are expected to be removed MSCI India index during the rebalancing exercise in May following a sharp correction in their stock prices.

“Based on the closing prices from February 14, Adani Power, Adani Total Gas and Adani Transmission could be deleted from the MSCI India Index at the May review.

Selling across the three stocks is currently estimated at nearly $400 million,” said analyst Brian Freitas of Periscope Analytics who publishes on Smartkarma.

He said MSCI will conduct a full float review in May, which also increases the risk of Adani Green Energy getting deleted from the index. Currently, eight out of 10 Adani Group stocks are part of the MSCI index.

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Topics :Stock MarketAdani GroupGautam Adani

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