Adani Transmission share price sank 3% to Rs 776 while Adani Total Gas stock price tanked 3.4% to Rs 671.3 as MSCI excluded the embattled Adani group scrips from MSCI Global Standard Index in its latest rejig exercise, effective today. Indus Towers will also exit the index; while Max Healthcare Institute, Hindustan Aeronautics (HAL) and Sona BLW Precision Forgings have been included.
Additionally, Indus Towers fell 2.3%, touching an intraday low of Rs 153.10. Max Healthcare Institute, which was added to the index saw its share price fall 1.2%, making an intraday low of Rs 528.70. Additionally, Sona BLW Precision Forgings tanked 5.6% to Rs 503 per share, despite its addition to the MSCI Index. Hindustan Aeronautics gained 1.2% in trade.
According to Nuvama, the quarterly MSCI rejig will bring in passive inflows of $500 million. Max Healthcare Institute will bring inflows of $312 million, Hindustan Aeronautics will see $196 million in inflows while Sona BLW Precision will bring in $171 million. Alternatively, as a result of their departure from the index, Adani Total Gas will see $167 million outflows and Adani Transmission is expected to have outflows of $189 million.