MSCI Index rejig: Nine stocks including IndusInd Bank, Suzlon Energy, Paytm, likely to enter global index; details here

Analysts anticipate the addition of IndusInd Bank, Suzlon Energy, Persistent Systems, APL Apollo, and One97 Communications, parent company of Paytm, to the closely watched Morgan Stanley Capital International (MSCI)Global Standard Index, which will be rejigged on November 15, highlighted brokerage Nuvama Alternative & Quantitative Research in its report.

As per the brokerage report, with IndusInd Bank's debut, the stock will see $290 million in inflows. Suzlon might get $264 million, Persistent Systems may see $258 million, One97 Communications may receive$163 million, and APL Apollo might get$227 million.

In addition to these names, the following companies might also be included in the MSCI Standard Index: Polycab (with inflows of $190 million), Macrotech Developers (with inflows of $183 million), Tata Motors DVR (with inflows of $173 million), and Tata Communications (with inflows of $160 million), according to the report.

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“As we approach the global cut-off period for MSCI Nov 23 Rejig, we are reaffirming our top conviction picks for both the Standard Index and the Small-cap Index. Since the beginning of August 2023, we have consistently highlighted probable MSCI November 2023 names in multiple instances.

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This note serves as a reiteration of our convictions. The global cut-off period spans from October 18th to 30th. We expect the selection day to happen in initial few days of cut-off period itself. The official announcement is scheduled for November 14th, with adjustments taking place on November 30th,” the brokerage said.

On the same day, MSCI will also announce changes to the MSCI Smallcap index. According to the report, these changes could result in the addition of Gokaldas Exports, SJVN, Hindustan Construction Co, PTC India, Gateway Distriparks, Arvind, Electrosteel Casting, DB Realty, Orient Cement, Gabriel India, Astra Microwave, Lloyds Engineer, Jai Balaji Inds, Agi Greenpac Ltd, Tilaknagar Inds, Redtape, PG Electroplast, IFCI Ltd, Man Infraconstruction, Force Motors, Texmaco Rail & Engineering, Pricol, Wonderla Holidays, and PDS Ltd. These changes could result in inflows of $3–7 million.

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Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.