Global stock index compiler MSCI said it was in the midst of reviewing the status of equities in Adani Group on Thursday after a number of market participants raised concerns about the eligibility of the conglomerate’s companies for some of its indexes.

What Happened? Morgan Stanley Capital International (MSCI) has announced that it will review the ‘free float’ status of Adani Group stocks in its indices amid investors' concerns, adding that the changes will be announced later in the day.

Per MSCI, the free float of security is defined as the proportion of shares outstanding that are considered available for purchase in public equity markets by international investors.

MSCI in an announcement said, "MSCI has received feedback from a range of market participants concerning the eligibility and free float determination of specific securities associated with the Adani Group for the MSCI Global Investable Market Indexes (GIMI)."

Read Next: Paytm’s Golden Run Continues As Analyst Upgrade Supercharges Fintech Stock

“MSCI has determined that the characteristics of certain investors have sufficient uncertainty that they should no longer be designated as free float pursuant to our methodology,” the statement added.

It is worth noting that the index provider in late January stated that it was seeking feedback from market participants when Adani Group companies were amid a sell-off crisis.

The stocks of Adani Group companies have been on a bit of a rebound this week after several listed entities of the conglomerate released their Q3 results on Tuesday. However, the markets haven’t reacted very well to MSCI’s announcement on Thursday.

Price Action: This is how the Adani Group shares traded shortly after markets opened on Thursday.

Adani Enterprises shares traded 9.02% lower at ₹1,964.00

Adani Green Energy was down 3.57% to trade at ₹773.15.

Adani Ports & SEZ was down 3.62% to trade at ₹577.50.

Adani Power shares hit lower circuit at ₹172.90 after dropping 5%.

Adani Total Gas shares traded 5% lower at ₹1,324.45.

Adani Wilmar was up 5% to trade at ₹440.20.

Adani Transmission shares were down 5% to ₹1,248.55.

Ambuja Cement shares traded 5.19% lower at ₹364.40. ACC shares traded 2.26% lower at ₹1,928.85.

NDTV was down 2.28% to trade at ₹222.55.

Read Next: Nykaa Shares’ Rally Continues With Investors Eye Fixated On Earnings Report