Adani Energy shares fall 10% on getting bad news from MSCI
Shares of Adani Energy Solutions on Thursday fell 10.37% to Rs 963 on BSE earlier in the day after global index services provider MSCI failed to include the stock in MSCI Global Standard Index citing an earlier show cause notice from Sebi in the wake of allegations made by Hindenburg.
The Street was expecting Adani Energy to get included in the global index as part of its periodic rejig where 5 Indian stocks were included - Voltas, BSE, Kalyan Jewellers, Oberoi Realty and Alkem Labs.
"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 categorization of shareholding of certain entities," MSCI said.
