MSCI Index Rejig: Paytm, IndusInd Bank, Suzlon among nine stocks included in Standard Index
IndusInd Bank, One 97 Communications, Tata Motors ‘A’ (Tata Motors DVR) and Suzlon Energy shares are among nine stocks that have been included in the MSCI Global Standard Index. As per the latest announcement by the global index provider, the other stocks included in MSCI India Index are APL Apollo Tubes, Macrotech Developers, Persistent Systems, Polycab India and Tata Communications.
Meanwhile, MSCI has not deleted any stocks from the India index. The changes in constituents for the MSCI Global Standard Indexes will take place as of the close of November 30, 2023.
The Morgan Stanley Capital International (MSCI) indices are widely tracked by passive funds and any inclusion of stocks or increase in weightage of stocks in these global indices are expected to lead to inflows from passive funds tracking these indexes. As per a report by Nuvama Alternative & Quantitative Research, IndusInd Bank share debut in the index will attract $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 worth inflows. Meanwhile, Polycab, Macrotech Developers, Tata Motors DVR and Tata Communications are likely to witness inflows of $190 million, $183 million, $173 million and $160 million, respectively.Milestone Alert!
Livemint tops charts as the fastest growing news website in the world
