MSCI skips Adani Energy's inclusion in Nov rebalancing

12 Nov 2024 CW Team

Adani Energy Solutions share price plunged 9 % to Rs 975 on the BSE in Thursday's intraday trade on profit booking after the stock failed to make it to the MSCI India index. In the past two days, the stock of the Adani Group firm had rallied 11 % on hopes that it may get included in the MSCI India Standard index. Notably, the MSCI November rebalancing was announced earlier today. The Bombay Stock Exchange Ltd. (BSE), Voltas, Alkem Laboratories, Oberoi Realty, and Kalyan Jewellers were included in the MSCI Global Standard Index as part of the index provider's latest review. The changes in constituents will take place as of the close of November 25, 2024.MSCI attributed the non-inclusion for Adani Energy Solutions to concerns surrounding its free float. "As per publicly available disclosures, Adani Energy Solutions has been issued a show cause notice by the Securities Exchange Board of India (Sebi) for potential wrongful categorisation of shareholding of certain entities," MSCI said in its statement. Consequently, in light of the uncertainty regarding its free float, MSCI will not implement any increases in the Number of Shares (NOS), Foreign Inclusion Factor (FIF) and Domestic Inclusion Factor (DIF) for Adani Energy Solutions as part of the November 2024 Index Review and until otherwise announced, it added. MSCI further said it continues to monitor Adani Group and associated securities, including related to free float, and will issue further communication if appropriate

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

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Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..