MSCI seeks Adani Group's response on Hindenburg report
Index provider MSCI on Saturday said it is seeking comments on Adani Group and related securities and is aware of a report issued by short-seller Hindenburg Research.
A US short-seller on Wednesday said it held short positions in the Indian conglomerate, accusing it of flagging concerns about improper use of offshore tax havens and high debt, leading to large volumes of India-listed shares of group companies. Sold on a large scale.
"MSCI is closely monitoring publicly available information regarding the situation and factors that may affect the eligibility of those relevant securities for inclusion in the MSCI Global Investable Market Index," it said in a statement.
All Adani Group stocks, except Adani Wilmar, are in the MSCI Global Standard Index and FTSE Index. Adani Ant, Adani Ports, Adani Trans, Adani Total Gas, Adani Power, ACC, Ambuja and Adani Green are present in the MSCI Standard Index and FTSE World Index.
The statement claimed that MSCI will take a decision on the treatment of the Adani stock index after receiving feedback and consultation.
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