13 May , 2022 By : monika singh
MSCI (Morgan Stanley Capital International) has added Adani Power, Jindal Steel & Power, AU Small Finance Bank, and Tata Elxsi to the MSCI India Index after the semi-annual review 2022. Additionally, HDFC Asset Management Company will be booted out from the index. The move is largely in line with expectations pinned by analysts earlier. According to estimates by Edelweiss Alternative Research, the addition of the stocks to MSCI Indices could result in inflows worth $566 million. MSCI reviews its global and domestic indices semi-annually based on various factors.Â
Stocks that will be removed from the index include Bajaj Consumer care, L&T Technology Services, Solara Active Pharmaceutical, Varun Beverages, and Future Retail, among others.
Domestic index changes
Further, MSCI has also rejigged its domestic India index, where 3 securities have been added while deleting 4. Bank of Baroda, Cholamandalam Investment and Finance Company, and Jindal Steel & Power have been added to the index. On the other hand, HDFC AMC, Indraprastha Gas, MRF, and Shriram Transport Finance have been excluded.Â
MSCI India Domestic Small Cap Index will also see the addition of 50 new stocks from the market closing on May 31, 2022. 10 stocks will be removed.Â
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