Vodafone Idea shares. Seven other stocks need up to 10% rise to enter the MSCI index, Nuvama Equities said in a report. These stocks are Oberoi Realty, Zydus Lifesciences, Prestige Estates, Thermax, Nykaa parent FSN E-Commerce Ventures, Alkem Laboratories and Steel Authority of India (SAIL).
These stocks need up to 10% price move on the upside to be eligible for inclusion in the MSCI Global Standard Index. The official cut-off date is the third week of July and the MSCI announcement is likely to be made on August 13. Also Read: MSCI Rejig: PNB, BHEL, NMDC, among five additions to India Standard Index; 27 stocks added to Small Cap index According to Nuvama estimates, Oberoi Realty, Zydus Lifesciences, Prestige Estates and may attract inflows worth $130-137 million after their inclusion in the index.
FSN E-Commerce Ventures, Alkem Laboratories and SAIL are likely to see inflows of $127 million, $126 million and $124 million, respectively. Meanwhile, Oil India, ACC, Oracle Financial Services Software and United Breweries shares need 10% to 20% upside to be included in the index, while Schaeffler India share price needs more than 20% rise. Also Read: Stocks in focus: Ruchit Jain of 5paisa recommends HPCL and Bank of India today Nuvama Equities has reaffirmed its May 2024 conviction names for MSCI Global Standard Index and MSCI Smallcap Index.
“The May review will entail another action-packed rejig as we anticipate close to USD 2 billion inflow into India. The pre-emptive price action in most of the names are already factored in," said the brokerage firm. As of April 26, 2024, India’s weight in the MSCI Emerging Market Index stands at 18%, a significant leap from just 8% in early 2020.
Read more on livemint.com