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Bullish run paves the way for three Adani Group companies in MSCI India Index  

Bullish run paves the way for three Adani Group companies in MSCI India Index  

Besides Adani, SBI Cards and Payment and Apollo Hospitals also managed to get into the leading index, tracked widely by global investors

New Delhi: According to the release of MSCI India Domestic Index, Adani Enterprises, Adani Total Gas and Adani Transmission have entered into the semi-annual review of the index provider declared on May 11, 2021. Besides Adani, SBI Cards and Payment and Apollo Hospitals also managed to get into the leading index, tracked widely by global investors.

The changes have come into effect from May 27. Adani Total has migrated from MSCI India Domestic Small Cap index to MSCI India Domestic Index on the back of its recent growth trajectory. Although Adani Enterprises and Adani Total shares dropped after getting into the index, Adani Transmission ended up over 0.5 per cent at the same time.

Alongside Adani, SBI Cards gained 0.4 per cent, while Zee entertainment gained 3.34 per cent at Rs 193.20 on the BSE, despite being excluded from both the MSCI Global Standard Index and MSCI Domestic India Index. SBI Cards have been included on the back of strong growth trajectory in the last few months.

The incorporation of the three Adani Group companies in the index is attributed to their bullish run in the markets. Among its other listed entities, Adani Green Energy Ltd. and Adani Ports & Special Economic Zone Ltd. are already there in the MSCI India Domestic Index.

The market value of Adani Group’s companies has pushed the MSCI to add two more stocks of the top Indian conglomerate, despite the lack of analyst coverage for some of its ventures. However, the shares of each one of them more than doubled this year, paving the way for their inclusion into the MSCI.

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