2 Adani Group to exit from MSCI Global Standard Index; Maximum weightage to be gained by Zomato

MSCI Global Standard Index announced, on Thursday, that two of Adani Group stock will take an exit, while the weightage of food delivery app Zomato will go. The adjustments will take place on May 31, 2023.

The two stocks of Adani are Adani Transmission and Adani Total Gas, and it is expected that this will trigger outflows of $201 million in case of Adani Transmission and $186 million in the case of Adani Total Gas, according to Nuvama Alternative & Quantitative Research.

The report further added that 18 million shares of each Adani Group stock will be offloaded. The stock carry weights of 0.34 and 0.31 respectively, according to a report.

On Thursday, both Adani Transmission and Adani Total Gas witness a growth of 3.09% and 2.38%, respectively, on NSE.

Meanwhile, Zomato will witness as addition to its weightage which will trigger an inflow of $59 million and an addition of 77 million shares. The average volume is expected to go up by 0.9 times. Its share’s on Thursday maintained their last session’s lead at Rs. 63.10

Other stocks which will have an increase in their weightage include Kotak Mahindra Band, Samvarshana Motherson International, Cipla, Maruti Suzuki India, Interglobe Aviation, and NTPIC among others. On the other hand, Reliance Industries, ICICI Bank, and Infosys will come down.