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

30 May 2026

Chembur Metro to Boost East Mumbai Links

MMRDA is advancing eastern Mumbai’s urban mobility network, with the upcoming Chembur Metro Station set to emerge as a key interchange and the Mumbai Monorail preparing for relaunch.Dr Sanjay Mukherjee, Metropolitan Commissioner, MMRDA, conducted a site visit to Chembur Metro Station along with Kanhuraj Bagate, Managing Director, MMMOCL. He also visited the nearby VN Purav Monorail Station to review system preparedness and ease of interconnectivity.Once operational, the interchange is expected to offer commuters across the eastern suburbs quicker access, smoother transfers and seamless conne..

Herrenknecht TBMs Drive Thane–Borivali Tunnel Progress

Herrenknecht India has supplied two of the four tunnel boring machines (TBMs) required for the 11-km Thane–Borivali Twin Tunnel Project being developed by the Mumbai Metropolitan Region Development Authority (MMRDA). The project is expected to reduce travel time between Thane and Borivali from 60–90 minutes to around 15 minutes while easing congestion across the Mumbai Metropolitan Region.The first two Single Shield TBMs, named Nayak and Arjuna, feature 13.34-m cutterhead diameters and are designed for hard-rock excavation. They will be deployed to tunnel through the challenging geological..

KBL Launches Smart Skid Mounted Fire Pump Set

Kirloskar Brothers (KBL) has launched its Smart Skid Mounted Fire Pump Set, an integrated fire protection solution designed to improve operational efficiency, remote monitoring and installation flexibility. The system was inaugurated by Ms Madhuritai Misal, Hon. Minister of State for Urban Development, Government of Maharashtra.The Smart Skid Mounted Fire Pump Set is a factory-tested, pre-packaged solution that combines FM/UL-certified motor and engine pump sets with IoT-enabled remote monitoring. Designed to deliver a flow rate of 170 m³/hr at a head of 100 metres, the system aims to provide..