Billionaire Adani may win three more slots on the MSCI India index
Billionaire Gautam Adani is likely to see three more companies from his coal mining-to-data centers. While complex join the MSCI India Index after shares in each one of them. More than doubled this year, according to analysts.
Moreover, the group’s flagship Adani Enterprises Ltd gas supplier Adani Total Gas Ltd and power distributor Adani Transmission Ltd may get including in MSCI Inc’s. The potential inclusions are seeing further boosting wealth for Adani, who has added $20.2 billion to his net worth this year.
On the other side, the tycoon, who started out as a commodities trader. It has diversified from mines, in the late 1980s. While it has diversified from mines, ports, and power plants into airports, data centers, and defense.
Passive funds may have to buy shares worth about $830 million in total three companies after their inclusion, as per calculations by Freitas. Still, these stock trade much higher than their global peers and longer-term returns may not be worth the risks involved.
Meanwhile, S&P Dow Jones Indices said in a statement Monday that it will be removed Adani Ports and Special Economic Zone from the Dow Jones feasibility Indexes because of links to the Myanmar military. While a lack of analyst coverage for many of the Adani group’s companies hasn’t stopped. MSCI from adding its stocks as the index providers’.
Adani Green was adding to the MSCI India gauge end-November. Still has no analysts covering it, as per data compiled by Bloomberg. MSCI is setting to declare the results of its latest review on May 11th and changes will be effective from the close of trading on May 28th, as per a report by the index provider in February.
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