MSCI Index Rejig: Three Adani Group Firms In, Zee Entertainment Out
The half-yearly review of MSCI India index will see the additions of 6 companies, including three Adani Group stocks.
Three Adani Group companies are among the six stocks to be added to MSCI India index in its half-yearly review as investor excitement around the group continues.
MSCI Inc., the world's biggest index compiler, will add to the index:
- Adani Gas Ltd.
- Adani Enterprises Ltd.
- Adani Transmission Ltd.
- Cholamandalam Investment and Finance Co.
- SBI Cards & Payment Services Ltd.
- Bharat Electronics Ltd.
Billionaire Gautam Adani-controlled Adani Green Energy Ltd. and Adani Ports & Special Economic Zone Ltd. are already part of the index.
MSCI will drop Zee Entertainment Enterprises Ltd. from the index, according to its statement. All changes will be effective May 28.
Following the changes, MSCI India will see gross inflows of $2.8 billion and net inflows of $219 million, Morgan Stanley said in a note. India's weight will increase by 5 basis points to 9.74% in the MSCI Emerging Markets index with these changes, it said.
The index compiler also added 33 Indian stocks and removed five from the MSCI India Small-Cap Index.
Inclusions
- SKF India Ltd.
- Prism Johnson Ltd.
- Shriram City Union Finance Ltd.
- UTI Asset Management Co.
- Computer Age Management Services Ltd,
- Brigade Enterprises Ltd.
- Sumitomo Chemical India Ltd.
- Supreme Petrochem Ltd.
- Century Plyboards India Ltd.
- KNR Constructions Ltd.
- EPL Ltd.
- Poly Medicure Ltd.
- JK Lakshmi Cement Ltd.
- Max Healthcare Institute Ltd.
- Indigo Paints Ltd.
- Oracle Financial Services Software Ltd.
- Solara Active Pharma Science Ltd.
- CG Power and Industrial Solutions Ltd.
- KPIT Technologies Ltd.
- Alok Industries Ltd.
- Intellect Design Arena Ltd.
- Burger King India Ltd.
- Gujarat Narmada Valley Fertilizers Co.
- Zee Entertainment Enterprises Ltd.
- NCC Ltd.
- Balaji Amines Ltd.
- Rain Industries Ltd.
- Route Mobile Ltd.
- Sun TV Network Ltd.
- Indian Railway Catering and Tourism Corp.
- BEML Ltd.
- Canara Bank
- Happiest Minds Technologies Ltd.
Exclusions
- Adani Total Gas Ltd.
- Cholamandalam Investment & Finance Co.
- Hemisphere Properties India Ltd.
- KRBL Ltd.
- Mishra Dhatu Nigam Ltd.