Fresh risk for Adani as MSCI probes free float of group stocks


FILE PHOTO: The logo of the Adani Group is seen on one of its buildings in Ahmedabad, India, January 27, 2023. REUTERS/Amit Dave

SYDNEY/NEW DELHI (Reuters) -India's Adani Group faced fresh concerns on Thursday after financial index provider MSCI said it was reviewing the free float designation of some group company securities.

Billionaire Gautam Adani has seen some $110 billion wiped off the value of seven firms in the group he founded after U.S. short seller Hindenburg Research accused the group of improper use of offshore tax havens and stock manipulation.

Play, subscribe and stand a chance to win prizes worth over RM39,000! T&C applies.

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In World

Myanmar's junta chief set for parliamentary vote on presidential bid
Cuba to free 2,010 prisoners from island jails in 'sovereign gesture'
South Korea, France to upgrade ties as Macron trip overshadowed by Middle East crisis
Trump sacks attorney general, replaces with ex-personal lawyer
UN-backed Haiti mission implicated in four cases of sexual abuse, report shows
Iran says attacks Oracle data center; Dubai authorities deny
Roundup: Humanitarian crisis worsens in Lebanon, Gaza, West Bank as Mideast conflict continues: UN
Zelenskiy offers Ukraine's maritime expertise with Strait of Hormuz
Russia's new car sales rise 4 pct in Q1
From the Frontline: War-weary Iraqis find solace in football

Others Also Read