Adani dealt another blow as MSCI moves to cut index weightings

Change could prompt global investors to sell more shares in Indian group

20230210  Adani logo

The weightings of Adani Group flagship company Adani Enterprises, Adani Total Gas, Adani Transmission and cement manufacturer ACC will be reduced in MSCI indexes, starting March 1. © Getty Images

SAYAN CHAKRABORTY, Nikkei staff writer

TOKYO -- Global index provider MSCI is moving to cut the weightings of four Adani Group stocks in its widely followed indexes, dealing another blow to the Indian conglomerate following a rout in its shares triggered by a short-seller report.

MSCI said on Friday that it had determined that the "free float" of the companies -- the number of shares readily available for trading in public markets -- was smaller than it had previously thought.

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