Active Stocks
Fri Sep 22 2023 15:58:38
  1. Tata Steel share price
  2. 126.7 -0.86%
  1. HDFC Bank share price
  2. 1,529.2 -1.57%
  1. State Bank Of India share price
  2. 598.1 1.67%
  1. Power Grid Corporation Of India share price
  2. 199.1 -1.34%
  1. Tata Motors share price
  2. 621.1 -0.93%
Business News/ Markets / MSCI Index Rejig: HAL, Max Health, Sona BLW included; Indus Towers, two Adani Group stocks excluded

Morgan Stanley Capital International (MSCI) has added Hindustan Aeronautics Ltd (HAL), Max Healthcare and Sona BLW Precision to its India Standard Index in its May 2023 rejig.

MSCI, on the other hand, removed Adani Total Gas, Adani Transmission and Indus Towers from the Index.

The addition into the index is expected to result in inflow of $195 million for Hindustan Aeronautics Ltd, $295 million for Max Healthcare and $175 million for Sona BLW, as per Nuvama Alternative & Quantitative Research.

Also, an outflow of $201 million for Adani Transmission, $186 million for Adani Total Gas and $84 million from Indus Towers can be expected.

The MSCI India Standard Index is tracked by certain index funds and exchange-traded funds (ETFs) as a benchmark.

MSCI has also rejigged its India Small Cap index. It has included ACE, Bikaji Foods, Fusion Micro Finance, IRCON, KFin Technologies, Kaynes Technology, Maharashtra Seamless, NMDC Steel, Religare Enterprises, RVNL, Syrma SGS Technology and Ujjivan Small Finance Bank in MSCI India Small Cap Index.

Meanwhile, Astec Lifesciences, Dilip Buildcon, Dhani Services, Gillette India, Max Healthcare, PC Jewellers, Polycab India, Radico Khaitan and Thyrocare have been removed from the small cap index.

Kotak Mahindra Bank, ONGC, Maruti Suzuki, NTPC, Mahindra & Mahindra, Yes Bank, Siemens, Interglobe Aviation, Ultratech Cement, and Zomato, among others will see their weight rise in the MSCI index.

Meanwhile, stocks that will see decrease in the weight include Reliance Industries, Infosys, ICICI Bank, JSW Steel, HDFC, Tata Consultancy Services, among others. 

Catch Live Market Updates here.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 12 May 2023, 10:36 AM IST
Next Story
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App