Shares of Adani Total Gas and Adani Transmission have slumped 78 percent and 66 percent respectively since the beginning of this year after a report by US-based Hindenburg Research, questioning the group's financial health and disclosures, led to a free fall of all its stocks
Following a massive sell-off, two Adani group stocks will be completely removed from the MSCI Global Standard index as part of the index provider’s review and rebalancing announced on Friday. As the two companies, Adani Transmission and Adani Total Gas, do not meet the relevant free float-adjusted market capitalisation requirements, both will be deleted from the Global Standard index, MSCI says.