MSCI cuts free-float designations for four Adani stocks

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Editor's note: Global index provider MSCI has reduced the foreign inclusion factor of four Adani group stocks, as part of its February index review. MSCI defines the foreign inclusion factor, or FIF, of a security as the proportion of outstanding shares available for purchase by international investors in the public equity markets. “MSCI will implement the resultant free-float changes and associated market capitalization determinations in connection with the February 2023 Index Review. The changes will be made as of the close of 28 February 2023, effective 1 March 2023,” a spokesperson from MSCI told The Morning Context. The FIF of Adani Enterprises has been reduced from 25% to 15%; of Adani Total Gas from 25% to 14%; of Adani Transmission from 25% to 10%; and that of ACC from 40% to 35%. 0.1 = 10%.Pro forma data reflects the scheduled changes as if they were implemented on the date of the announcement.The data includes market capitalization, number of securities and sector and industry weights. The four companies had a combined 0.4% weighting in the MSCI emerging markets index as of 30 January, …