- By Aditya Pratap Singh
- Tue, 13 Aug 2024 01:04 PM (IST)
- Source:JND
Adani Group Stocks: Global index provider MSCI has lifted restrictions on Adani Group and its subsidiary stocks, enabling further development of the conglomerate's trading operations. The index provider specified that the changes - including factors in the number of shares and foreign and domestic inclusion of stocks - will be implemented from the August 2024 index review.
When the August 2024 review was announced, it announced domestic and foreign inclusion factors among them.
MSCI, which has dropped Adani Energy and Adani Enterprises from the Global Standard Index, will consider raising funds for the two companies. It will also continue to monitor Adani group stocks, including those linked to the free-float, it said in a statement.
Also Read: Hindenburg Allegations: Adani Group Stocks Rebound After Sharp Fall On Monday
MSCI's latest announcement is for its Global Standard Index. Adani Group stocks that are a part of the MSCI Global Standard Index are Adani Enterprises, Adani Ports & SEZ, Adani Green Energy, Adani Power, and Ambuja Cement.
Furthermore, MSCI August review saw Adani Enterprises and Ambuja Cement lose weight in its standard index.
MSCI also announced the inclusion of seven stocks - RVNL, Vodafone Idea, Dixon Technologies (India), Oil India, Oracle Financial, Prestige Estates and Zeidas Lifesciences - in the MSCI India Index.
The weight of HDFC Bank shares in the MSCI index will increase, but it will be in two tranches.