NEW DELHI: Global indices service provider MSCI had earlier this month announced a couple of inclusion and exclusion, along with changes in weightages of a few Indian stocks, which has influenced flows in these stocks. While it has added four stocks to its MSCI India index, namely Tata Elxsi, Adani Power, Jindal Steel & Power and AU Small Finance Bank, HDFC Asset Management Company was booted out from the index. Another Gautam Adani-owned group stock Adani Green’s weighting in the MSCI India Index was cut as it admitted new stocks.
Adani Green Energy Ltd., the group’s biggest firm by market value, led the rout, plunging a record 12% in trading volume on Wednesday, June 1, about nine times the average of the past three months. Adani Total Gas Ltd. Adani Transmission Ltd. and Adani Power Ltd. fell by at least 5% each.
