New Delhi. After the report of American company Hindenburg, India’s billionaire businessman Gautam Adani slipped from number two to number 21 in the list of rich people. It is now reported that after America’s short-seller Hindenburg report, the troubled Gautam Adani group has suffered another major setback. Index operator MSCI said it has cut the free-float designation of four securities of Adani Group. MSCI said in a statement that it has reduced the free floats of Adani Enterprises, Adani Total Gas, Adani Transmission and ACC.
Let us tell you that according to the sources, according to the index operator, the free float of the rest of the companies will remain the same as before. Explain that eight companies of Adani Group are included in the MSCI index. The four companies for which the reduction in free float designation has been announced to be affected from March have a combined weighting of 0.4% in the MSCI Emerging Market Index as of January 30. The changes will be effective from March 1. Let us tell you that after the news of MSCI’s review, the shares of the group companies declined on Thursday. The stock of Adani Enterprises, the group’s flagship company, was down about 15 percent.
Significantly, out of 10 Adani Group companies, shares of nine closed at a loss. While the BSE Sensex had climbed 142 points. Let us tell you that after the Hindenburg report, the market cap of the seven listed companies of billionaire Gautam Adani has fallen by $ 110 billion. MSCI had announced the review Recently, MSCI had said that it is reviewing the status of ‘free float’ to some securities of the group companies. According to MSCI (Morgan Stanley Capital International), ‘free float’ means the number of shares available for purchase by global investors in the market in proportion to the shares available with all participants in the market.