New Delhi: World's largest index compiler MSCI Inc has included seven new stocks including IRCTC and Zomato in its September 12 rejig of the India standard index. Two stocks have been removed from its semi-annual index rejig on Friday. "As per the assessment, this inclusion in the MSCI index can see the passive flow of around $1.3 billion in India", Edelweiss said in a note earlier this week. Here are the new stocks that have been included in the MSCI index:
The global index provider MSCI rebalances its indices semi-annually and quarterly. The adjustment for its November semi-annual index rebalancing will take place on November 30 and the rejig will be with effect from December 1. These two stocks have been excluded from the MSCI India index:
The compiler added nine stocks to MSCI India Domestic Index. Apart from the seven inclusions to the standard index, it also included Bajaj Holdings and Investment Ltd. and Bharat Electronics Ltd. Edelweiss has said in the note that Tata Power could be the largest beneficiary of inflows, with $240 million funds expected to come in favour of the company. Indian Railways' PSU IRCTC could see $171 million of inflows, followed by $153 million inflows in favour of newly listed Zomato. (Equity Watch Bureau)
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