Most Adani Group Stocks Close Lower, Adani Enterprises Down 4%
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Shares of eight of the 10 group firms closed in the red. (File) New Delhi: Shares of most of the Adani group companies settled lower on Friday, with flagship company Adani Enterprises registering a 4 per cent slump, after index provider MSCI decision to cut the free-float weight of some companies of the conglomerate in their indices. Shares of eight of the 10 group firms closed in the red, while two companies settled in the green territory on Friday. The Market cap of Adani group companies fell again by 3.3 per cent on February 10, following the MSCI decision to cut the free float weight of some companies of the conglomerate in their indices. "The market cap of the group is now down by 51 per cent as compared to that on January 24," Deepak Jasani, Head of Retail Research at HDFC Securities said. The scrip of Adani Enterprises nosedived 4.15 per cent to settle at Rs 1,847.35 apiece on the BSE. During the day, it declined 10 per cent to Rs 1,734.60 -- its lower pric...