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Adani Group Latest News: There is good news for the controversy-ridden Adani group. Global index operator MSCI has postponed its review of the “free float” share weights of two Adani group companies – Adani Total Gas, Adani Power and Adani Transmission – until May. In fact, in the past, MSCI had changed the weighting of Adani Group’s four companies for free float. The change was said to be implemented from February, after which shares of Adani Group saw a big drop. However, MSCI has now reversed its decision on the two Adani companies. According to MSCI, the latest updates from Adani Total Gas and Adani Transmission will begin to appear in the index during the February index review.
MSCI sought information
We tell you that MSCI has said last week that it has sought information from the group’s securities in response to a Hindenburg Research report that Adani group companies were unfairly overvalued. MSCI said it is aware of this report on the working practices of the Adani Group and its companies. MSCI will closely monitor public information regarding this situation. Eight companies belonging to the Adani Group are currently part of the MSCI Standard Index.
Govt changes fortunes of company with ₹2 share, price rises 5% on news, rush to buy.
S&P looks at three fronts
Global rating agency Standard & Poor’s (S&P) assesses Adani Transmission Limited on three dimensions of Environmental, Social and Governance (ESG). “We will closely monitor developments, including any investigations by Indian regulators and any additional information provided by the Adani Group,” S&P said in a statement.
Adani’s big decision during the crisis is that banks hold meetings with bond investors
US-based activist investment research firm Hindenburg Research said in a January 24 report that Adani group companies have also been accused of several serious allegations, including stock price inflation and accounting fraud. Please tell me that this report comes before Adani Enterprises FPO, a representative company of Adani Group.