Index provider MSCI on Saturday said it has sought feedback on Adani group securities after a report by US-based investment research firm Hindenburg alleged stock manipulation and accounting fraud by the conglomerate.
The index provider said it is aware of the reports recently published regarding the Adani group and associated securities.
"MSCI is closely monitoring publicly available information regarding the situation and the factors that may impact the eligibility of those relevant securities for the MSCI Global Investable Market Indexes," it said in a statement.
The index provider said it welcomes timely feedback from market participants on these issues.
At present, there are eight Adani group & associates companies which are part of MSCI Standard Index.
Market experts believe any adverse feedback may lead to a reduction in weightage or even exclusion of Adani stocks from the MSCI index.
This might further increase the selling pressure faced by Adani group stocks, which took a beating for the past two trading sessions and lost more than Rs 4.17 lakh crore in the combined market valuation of listed firms.
Market experts believe that MSCI will not take any action until the feedback process is concluded.
On Wednesday, Hindenburg, which specialises in activist short-selling, made allegations of market manipulation and accounting fraud against Adani Group.
The report was released just before Adani group's flagship company, Adani Enterprises' Rs 20,000 crore share offering opened to investors. The disclosure led to shares of Adani Group took a beating on the stock exchanges.