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Adani Group

Adani sell-off reignites after MSCI reviews group's shares

Index provider says some Adani stocks should not be designated 'free float'

The Adani Group's market value has plunged in the wake of a short-seller attack.   © AFP/Jiji

TOKYO -- The sell-off in Adani Group companies reignited on Thursday after global index provider MSCI said it had reviewed the conglomerate's stocks and would announce changes to its weightings, while France's TotalEnergies put on hold an investment into a joint hydrogen project.

MSCI said it had determined that some Adani securities should no longer be designated "free float," adding that it would announce changes to its weightings later in the day as part of its regular review for February. Free float refers to shares that are readily available for trading in public markets.

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