look news india
Changes in the MSCI index: MSCI will change its index after the trading session closes today on May 31. This change can lead to additional investment of about $2 billion (about Rs 16,600 crore) in Indian stock markets. MSCI changes and rebalances its indices every quarter. Under which 13 new Indian stocks will be included in the MSCI Global Index, while 3 stocks will be removed from the index. The new stocks will include Bosch, Canara Bank, Indus Towers, Jindal Stainless, JSE Energy, Mankind Pharma, NHPC, PB Fintech, Phoenix Mills, Solar Industries, Sundaram Finance, Thermax and Torrent Power.
As a result, the total number of Indian stocks included in the MSCI index will now be 146, which was 136 earlier. Apart from this, the weightage of Indian stocks in the MSCI emerging index will also increase to 18.8 percent.
this would be the investment
According to a report by Nuvama Institutional Equities, the maximum investment expected from this change is $224 million (about Rs 1,865 crore) in Indus Towers. While PB Fintech and Phoenix Mills may see an investment of $223 million (about Rs 1,857 crore) and $213 million (about Rs 1,773 crore) respectively. While the remaining shares are expected to attract an investment of $144 million to $207 million.
On the other hand, Nuwama believes that Thermax stock is also in the pipeline to be included in the MSCI index. If he gets included, he can invest $139 million in the stock.
On the other hand, stocks like Paytm, Indraprastha Gas and Berger Paints will remain out of the index. A total of about $283 million (about Rs 2,356 crore) can be withdrawn from these stocks.
Changes will also be seen in the MSCI Smallcap Index, due to which 497 listed companies of India like Wari Renewable, Vedanta Fashion, VA Tech Wabag, RR Cable, Sanghvi Movers can be included in it.
