Adani Total Gas, Adani Transmission Hit 5% Lower Circuit on MSCI Index Rejig

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Adani Total Gas, Adani Transmission Hit 5% Lower Circuit on MSCI Index Rejig
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of Adani Transmission (NS: ADAI ) hit a 5% lower circuit at Rs 871.4 apiece in Friday’s intraday trade, while those of Adani Total Gas (NS: ADAG ) were locked in a 5% lower circuit at Rs 812.3 apiece in the session after the two stocks were dropped from the MSCI Global Standard Index on Friday.

The adjustment in the May index review will take place on May 31, 2023.

The exit of the two large-cap Adani Group stocks from the MSCI index is expected to trigger an outflow of nearly $390 million or Rs 3,200 crore.

Adani Transmission’s drop from the MSCI Global Standard Index is expected to lead to an outflow of $201 million, and that of Adani Total Gas is anticipated to account for a $186 million of exodus from the index, as per a Nuvama report.

The leading mobile tower installation stock Indus Towers (NS: INUS ) will also be excluded from the MSCI Global Standard Index in May. 

At the same time, three stocks, which include Hindustan Aeronautics (NS: HIAE ), Max Healthcare (NS: MAXE ) Institute, and Sona BLW Precision Forgings (NS: SONB ) will be added to the global index.

The addition of these three stocks are expected to bring in an influx of a total $665 million.

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