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.
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