Adani Group Two big companies have suffered a major setback. MSCI has announced in its quarterly comprehensive index that two Adani Group stocks Adani Transmission and Adani Total Gas will be pulled out of MSCI Global Standard Index. Same, the weightage of food delivery app Zomato will increase. This decision of MSCI will be implemented from May 31.
According to Nuwama Alternative and Quantitative Research, the exit of both Adani Group companies Adani Transmission and Adani Total Gas from the MSCI Global Standard index could result in outflow of $201 million from Adani Transmission. At the same time, $ 186 million can be withdrawn from Adani Total Gas.
According to the report, 18 million shares each of Adani Group’s scrip will be sold, according to the report, the share weightage is 0.34 and 0.31 respectively.
On Friday, May 12, 2023, Adani Transmission shares closed at Rs 889, down 3.08 per cent on the NSE. On the other hand, if we talk about the shares of Adani Total Gas, then the shares of Adani Total Gas closed at Rs 819.30 on Friday, May 12, 2023, down 4.18 per cent on the NSE.
On the other hand, if we talk about Zomato, then weightage will be seen in Zomato’s index. Due to which there will be an inflow of 59 million in it. 77 million shares will be bought from this. Its weightage will increase from 10 bps to 0.3. Its average volume is expected to increase by 0.9 times.
On Friday, May 12, 2023, Zomato shares closed at Rs 62.15 on the NSE, down 0.40 per cent. Whereas, if we talk about the 52-week high and low of Zomato stock, then its 52-week high was Rs.79.80. On the other hand, if we talk about the 52-week low level of Zomato’s stock, then its 52-week low is Rs.40.60.
Adani Group 2 companies Adani Transmission and Adani Total Gas exit MSCI India
MSCI has announced in its quarterly comprehensive index that two Adani Group stocks Adani Transmission and Adani Total Gas will be pulled out of MSCI Global Standard Index.
