"MSCI has determined that the characteristics of certain investors have sufficient uncertainty that they should no longer be designated as free float," U.S.-based MSCI said. Modi, pointing to opposition leaders, said: "No matter how much mud you sling, the lotus will keep blooming," referring to his party's lotus flower symbol. India's opposition parties heckled Prime Minister Narendra Modi in the upper house of parliament on Thursday and demanded an investigation into the allegations against the Adani Group. The world's largest stock investor, Norway's sovereign wealth fund, said on Thursday it had sold out of the Adani Group since the start of the year, unloading stakes in three firms worth just over $200 million. "Depending on the outcome of the MSCI review, we could see more pressure on select Adani group stocks." "Some investors follow MSCI index as a gauge," said Neeraj Dewan, director at Quantum Securities.
The Adani Group, which has denied any wrongdoing, did not respond to a Reuters request for comment on Thursday.Īnalysts say a change in free float status could affect the weightings of MSCI index constituents, possibly triggering a shift by funds as many investments are aligned to such indexes. short seller Hindenburg Research accused it of improper use of offshore tax havens and stock manipulation. SYDNEY/NEW DELHI, Feb 9 (Reuters) - India's Adani Group faced fresh concerns on Thursday after financial index provider MSCI said it was reviewing the free float designation of some of its companies' securities.īillionaire Gautam Adani has seen some $110 billion wiped off the value of seven firms in the group he founded after U.S.
0 kommentar(er)
