Mumbai: Most stocks of the Adani group of companies have registered gains on Thursday after global index provider MSCI postponed the implementation of weightage changes for Adani Total Gas and Adani Transmission in its indices to May 2023 due to potential replicability issues.
In a statement, MSCI said it will postpone the reduction of weightages of Adani Total Gas and Adani Transmission to its next index review in May.
Earlier, the index provider had announced reduction in the weightage of four Adani group companies in the MSCI Global Standard index to be effective from closing of February 28.
“In the light of potential replicability issues due to the impact from price limit mechanisms in specific securities associated with the Adani Group, the MSCI will postpone the implementation of such previously announced updates to the May 2023 index review,” MSCI said in an official statement.
After the postponement, Adani Enterprises shares closed one per cent higher at ₹1,796.30 on BSE after rising 5.36 per cent intra-day to ₹1,873.90 in the early morning trade.
Other gainers were Adani Wilmar (5 per cent), Adani Power (4.97 per cent), Adani Ports And Special Economic Zones (1.45 per cent), Ambuja Cements (0.99 per cent), NDTV (4.99 per cent).
Adani Green Energy, Adani Transmission, Adani Total Gas and ACC rose intra-day after MSCI update but later they saw some profit taking and closed in the red.
Both foreign and domestic institutions seemed to have bought Adani stocks after MSCI update as reflected from their buying in Thursday’s trade.
