In today’s briefing:
- MSCI Wants a Consult on Adani Group – I’m Not Sure What They Can Do
MSCI Wants a Consult on Adani Group – I’m Not Sure What They Can Do
- The Adani Group listcos have been on a wild ride for the last few years, rising from 10x TTM EV/EBITDA in March 2020 to 60x at end-September 2022.
- Adani Group “business incubator’ Adani Enterprises (ADE IN) last fall indicated it might raise $2.4bn of equity and combined 6 co market cap is down $135bn since.
- A short seller report last week put the cat amongst the pigeons. Now MSCI is consulting investors about what it might do regarding Things.
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