Adani Group stocks fell, ending a two-day rally, after MSCI Inc. said it was reviewing the amount of shares linked to the group that were freely tradable in public markets.
Any decision by the index provider to cut its assessment of the number of Adani shares considered freely tradable or remove the stocks from its indexes will likely trigger more selling. Separately, French energy giant TotalEnergies SE put a multi-billion dollar plan to produce green hydrogen with the Adani group on hold pending audits in a sign of a wider fallout from Hindenburg Research’s critical report last month.
