Mumbai: GMR Infrastructure Ltd and United Phosphorus Ltd will be replaced with Divi’s Laboratories Ltd and United Breweries Ltd in the MSCI India index from 30 November, market index provider Morgan Stanley Capital International Inc. said on Thursday.
This is a semi-annual index that MSCI announces at this time of the year.
Shares of United Phosphorus fell 1.21% on BSE to end Thursday at Rs.110.25 apiece while those of GMR Infra fell 4.91% to Rs.19.35 each. India’s key equity indices ended lower on Thursday amid weak global markets.
MSCI also replaced 17 Indian stocks with new ones in its Global Small Cap index.
Indiabulls Power Ltd, IRB Infrastructure Developers Ltd, Praj Industries Ltd, Tulip Telecom Ltd and Wockhardt Ltd were some of the stocks to be removed from the index. Among those added to the index were Mindtree Ltd, Multi Commodity Exchange of India Ltd, SKS Microfinance Ltd and TV18 Broadcast Ltd.