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Adani shares slide as MSCI reviews free float
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Shares of companies owned by Indian billionaire Gautam Adani fell after index provider MSCI said it would conduct a free-float review of Adani Group securities following feedback from market participants about the eligibility of some of the conglomerate’s securities.
“MSCI has determined that the characteristics of certain investors have sufficient uncertainty that they should no longer be designated as free float pursuant to our methodology,” MSCI said in a statement on 9 February.
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