Following the announcement by MSCI that two companies of the Adani Group will move out of the MSCI India Index with effect from 31 May, shares of Adani Total Gas and Adani Transmission fell in morning trade on Friday.
The stock of Adani Total Gas was down by 5 per cent to Rs 812.60 — its lower circuit limit — on the BSE. Meanwhile, shares of Adani Transmission declined 5 per cent to hit its lowest trading permissible limit for the day at Rs 871.15.
According to an update from index creator MSCI, there will be three additions and three deletions in the MSCI India Index as of the close of 31 May.
According to the May 2023 index review released on Thursday, the three companies to be added are Sona BLW Precision, Max Healthcare Institute, and Hindustan Aeronautics.
It may be noted that the MSCI Global Standard Index is widely used by global fund houses for benchmarking global equities portfolios.
