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Adani Group

Adani dealt another blow as MSCI moves to cut index weightings

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

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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