Adani's 3 Companies May Be Included In MSCI India Index In May

Billionaire Gautam Adani who amassed huge wealth amid the pandemic this year is likely to see his 3 more companies be a part of the MSCI India index. This is after shares of each of these companies more than doubled YTD, said the analysts.

Adani's 3 Companies May Be Included In MSCI India Index In May

As per the brokerage firm Edelweiss, the flagship firm of Adani Group, Adani Total Gas as well as Adani Transmission may be included in the MSCI Index in its semi-annual review of its gauges due in May. The Adani Group firms that are already part of the MSCI Index include Adani Ports and Special Economic Zone as well as Adani Green Energy.

The inclusion shall further add to Adani's wealth who accumulated the second highest wealth among world's billionaires amounting to $20.2 billion.

The investors in the companies' stocks have taken well the company's strategy of interlocking his group's interest with the Indian government infra.

There is "very high probability of these Adani names to come in the index primarily due to the surge in their market capitalization," Brian Freitas, a New Zealand-based analyst at Smartkarma, said by phone. "ETFs and other passive funds will have to buy, adding to Adani's fortune." After their inclusion, passive funds would have to buy shares totaling to almost $830 million, this is as per the calculation s by Freitas.

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