By Malvika Gurung
Investing.com — Shares of Adani Transmission (NS:) hit a 5% lower home run at Rs 871.4 apiece during Friday’s intraday trade, while those of Adani Total Gas (NS:) fell were locked in a 5% lower circuit at Rs 812.3 each during the session after both stocks were delisted from the MSCI Global Standard Index on Friday.
The adjustment in the May index revision will take place on May 31, 2023.
The exit of Adani Group’s two large-cap stocks from the MSCI index is expected to trigger an outflow of nearly $390 million or Rs 3,200 crore.
Adani Transmission’s drop from the MSCI Global Standard Index is expected to result in a $201 million outflow, and Adani Total Gas’ drop is expected to represent a $186 million outflow from the index, according to a report from Nuvama.
The main mobile tower installation stock Indus Towers (NS:) will also be excluded from the MSCI Global Standard index in May.
At the same time, three stocks including Hindustan Aeronautics (NS:), Max Healthcare (NS:) Institute and Sona BLW Precision Forgings (NS:) will be added to the global index.
Adding these three stocks is expected to generate a total inflow of $665 million.