Global index provider Morgan Stanley Capital International (MSCI) declared the removal of the freeze on Adani Group stocks, a move that comes amid ongoing scrutiny following the Hindenburg Research allegations.
Starting with the August 2024 Index Review, MSCI will implement changes. The adjustments will include updates to the number of shares (NOS), foreign inclusion factor (FIF), and domestic inclusion factor (DIF) for Adani Group and associated securities.
According to the declaration, these changes will take effect at the close of 30 August and will be fully implemented by 02 September. MSCI clarified that it will also resume the regular implementation of corporate events for these securities from 02 September onwards.
"The proforma FIF and DIF for these securities are declared along with the August 2024 index review declaration. The changes will be implemented as of the close of 30 August 2024 (effective 02 September 2024)," the statement from MSCI read.
Despite lifting the freeze, MSCI emphasised that it will continue to closely monitor the Adani Group and associated securities, particularly concerning their free float status.
The index provider stated that it would issue further communication if necessary, indicating that the group remains under observation.
In addition to the updates on Adani stocks, MSCI also informed the inclusion of eight new securities in its MSCI India Index.
The newly added securities are Bosch, Dixon Technologies India, Oil India, PB Fintech, Phoenix Mills, Rail Vikas Nigam, Vodafone Idea, and Zydus Lifesciences. (ANI)
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