Browsing Tag
Gautam Adani
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MSCI drops two Adani Group companies from India index
Global stock index compiler MSCI has removed Adani Total Gas and Adani Transmission from its India index due to their failure to meet market capitalization requirements. This comes after the Adani Group faced allegations of market manipulation, causing a significant decline in share prices.
Adani Enterprises is set to consider raising funds through share sales or other securities, while the Indian Supreme Court is considering an extension of the probe into the manipulation allegations.
The Adani Group’s shares have partially recovered but remain significantly below pre-allegation levels. Gautam Adani’s ranking on Forbes’ billionaires list has also dropped.