Adani’s electric utility service and city gas distribution units may be removed from MSCI Inc’s India gauge, resulting in a $500m selloff by passive funds. MSCI is expected to publish the results of the review this week. Analysts have predicted that the two firms will not hit the minimum threshold after the review. This action was proposed after Hindenburg Research, the US short-seller, claimed offshore shell firms and funds tied to Adani are the largest holders of shares who are non-insiders.
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