MSCI Rejig: Adani Power, Varun Beverages Among 11 Stocks Added To India Domestic Index; One Out
The changes will take place at of the close of Nov. 30, according to MSCI.
The MSCI added 11 stocks to India Domestic Index as part of its semi-annual review.
The following are changes in constituents for the MSCI India Domestic Index:
ABB India Ltd.
Adani Power Ltd.
Ashok Leyland Ltd.
Astral Ltd.
AU Small Finance Bank Ltd.
Indian Hotels Co.
Tata Elxsi Ltd.
Trent Ltd.
Tube Investment of India Ltd.
TVS Motor Co.
Varun Beverages Ltd.
Power Finance Corporation Ltd., a public sector company with a market cap of nearly Rs 31,000 crore, was deleted from the indices.
According to MSCI's note, the changes will take place at the close of Nov. 30.
As of Oct. 30, the MSCI India Index had 109 constituents, which covers approximately 85% of the Indian equity universe.
Separately, MSCI added 43 new securities to its India Domestic Small-Cap Index, while deleting 16.
Morgan Stanley, in a Nov. 1 note, announced eight stocks that were likely to be included in the index. Of them, four -- Varun Beverages, ABB India, Tube Investment and TVS Motor -- have been included.
The global research house pegs potential inflows of around $700 million from these four stocks.
Separately, Nuvama Alternative & Quantitative Research, formerly known as Edelweiss Research, got five inclusions correct out of its predicted six.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.