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    Kotak Bank, Yes Bank and ACC among stocks to join MSCI index

    Synopsis

    Bosch and LIC Housing Finance are two stocks that will move out from the MSCI India index.

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    The changes in constituents for the MSCI global standard indices will take place as of the close of November 30, 2020.
    Mumbai: Global index services provider MSCI has included 12 Indian stocks to its standard index as part of its semi-annual review. These 12 stocks are expected to see an inflow of about Rs 17,300 crore by end of this month, according to analysts’ estimates.

    Stocks such as Kotak Mahindra Bank, IPCA Laboratories, Muthoot Finance, ACC, Adani Green, Balkrishna Industries, Larsen & Toubro Infotech, MRF, PI Industries, Trent and Yes Bank are the new entrants in the MSCI Standard Index while Bosch and LIC Housing will be excluded. The changes in constituents for the MSCI global standard indices will take place as of the close of November 30, 2020.

    Kotak Mahindra Bank is expected to see an inflow of Rs 5,900 crore on account of the MSCI inclusion. Adani Green and Yes Bank could attract fresh overseas flows worth Rs 2,300 crore and Rs 1,400 crore, respectively. These stocks will remain under foreign fund managers’ radar in the coming weeks, which could push up prices.

    MSCI also made changes to the MSCI India Smallcap index. It has included 18 companies in MSCI India domestic small-cap index and removed seven stocks. Those included are 3M India, Aarti Drugs, LIC Housing Finance, Narayana Hrudayalaya, Vaibhav Global and Zydus Wellness.




    ( Originally published on Nov 11, 2020 )
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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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