MSCI adds 6 stocks in India Index - See list; 33 stocks in small cap index
Which stocks get entry in the new list of MSCI index and which shares see an exit from it? Which stocks will likely see major investment action? If these questions are bothering you, then here is the answer as Zee Business Devanshi Asher has this detailed report
Which stocks get entry in the new list of MSCI index and which shares see an exit from it? Which stocks will likely see major investment action? If these questions are bothering you, then here is the answer as Zee Business’ Devanshi Asher has this detailed report.
In the MSCI Global Standard Index, 6 stocks have been added while one stock has made an exit. Adani Group is a major entrant in this index with the inclusion of Adani Enterprises, Adani Total and Adani Transmission. SBI Cards and Payment Services, BEL and Cholamandalam Investment and Fin Co.
Meanwhile, in MSCI Global Small Cap Index, 33 stocks will be added while 5 stocks will make an exit. Many government-owned companies, IT companies will be among the ones finding a place. The stocks which will be added include Computer Age Management Services (CAMS), (Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), Max Healthcare, NCC, BEML, IRCTC, Intellect Design Arena.
The deletions include Hemisphere Properties, KRBL and Mishra Dhatu Nigam.
As for India, there are 34 new stocks that will be included. This is a big positive Asher said adding that Apollo Hospitals is among the inclusions. Meanwhile, Abbott India shares and TVS Motors will make exits. There will likely be negative trends and outflows in these stocks.
As per estimates by Morgan Stanley, the net inflows (total inflows minus outflows) wil be to the tune of USD 219 cr.
With these additions, the weight of the MSCI is expected to go up by 5 bps, Asher said.
Inflows expected in some major stocks:
- Adani Gas – Inflows likely to be around Rs 1860 cr
- Adani Enterprises – Inflows likely to be around Rs 1825 cr
- Adani Transmission – Inflows likely to be around Rs 1650 cr
- Cholamandalam Investment - Inflows likely to be around Rs 1280 cr
- SBI Cards - Inflows likely to be around Rs 1280 cr
- BEL - Inflows likely to be around Rs 850 cr
- Wipro - Inflows likely to be around Rs 240 cr
- Dabur - Inflows likely to be around Rs 240 cr
The adjustments are expected to happen by 27 May which means the adjustments will happen by 28 May in Indian markets, she said.
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