MSCI Global Standard Index review: HDFC AMC, Ashok Leyland among 8 additions, ACC excluded
HDFC Asset Management Company, IDFC First Bank, Ashok Leyland and Power Finance Corporation Ltd. (PFC), are among the eight stocks that will be included in the MSCI Global Standard Index. The other stocks include REC Ltd, Cummins India, Supreme Industries and Astral, as part of the August Global Standard Index review, effective from September 1, 2023.
Meanwhile, Adani Group cement manufacturer ACC Ltd. will be excluded from the MSCI Global Standard Index. According to Nuvama Alternative and Quantitative Research, IDFC First Bank is expected to see inflows of $204 million, while PFC may see inflows to the tune of $203 million after this inclusion.
As per its calculation, Ashook Leyland and REC Ltd are likely to witness inflows worth $196 million and $184 million, respectively. Moreover, Cummins India, Supreme Industries and Astral will attract inflows worth $173 million, $171 million and $170 million, respectively. HDFC Asset Management Company is expected to see inflows of $153 million.
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