MSCI seeks feedback on Adani Group over Hindenburg report
1 min read . Updated: 28 Jan 2023, 10:52 AM IST
PremiumMSCI seeks feedback on Adani Group over Hindenburg report
Index provider MSCI said on Saturday it is seeking feedback on Adani Group and associated securities and is aware of a report issued by short-seller Hindenburg Research.
The U.S. short-seller said on Wednesday it held short positions in the Indian conglomerate, accusing it of improper use of offshore tax havens and flagging concerns about high debt, leading to a massive sell-off of India-listed shares of the conglomerate's companies.
"MSCI is closely monitoring publicly available information regarding the situation and the factors that may impact the eligibility of those relevant securities for the MSCI Global Investable Market Indexes," it said in a statement.
All Adani group stocks barring Adani Wilmar are in the MSCI Global Standard Index and also FTSE Indices. Adani Ent, Adani Ports, Adani Trans, Adani Total Gas, Adani Power, ACC, Ambuja & Adani Green are present in MSCI Standard Index & FTSE World Indices
The statement claims MSCI will decide on the treatment of Adani stocks indices after receiving feedback and consultation.
