MSCI rejig: Adani Transmission, Adani Total Gas may see outflow of $206 mn

Shares of Adani Transmission and Adani Total Gas had hit their respective lower circuit filter of 5 per cent on Monday, after MSCI said it would reduce their weights in its indices

MSCI Indices is likely to announce changes for May in a review likely on May 12, even though the adjustments will take place on May 31, 2023, said Abhilash Pagaria, head of Nuvama Alternative & Quantitative Research in a report on Thursday.

Shares of two frontline Adani group companies – Adani Transmission ($122 million) and Adani Total Gas ($84 million) – as a result may see a combined outflow of $206 million on a likely cut in weightages, Pagaria wrote. Indus Towers, Nuvama's other 'high conviction' stock for exclusion could see an outflow of $83 million, the report suggests.