Zomato To IRCTC: Seven Stocks In, Two Out Of MSCI India Index
The changes will be effective Nov. 30.
MSCI Inc. will add seven stocks, including IRCTC Ltd. and the newly listed Zomato Ltd., and remove two from its India standard index as part of the semi-annual review.
The changes will be effective Nov. 30, the world’s largest index compiler said in a statement.
Stocks that will be added to MSCI India Index:
Godrej Properties Ltd.
Indian Railways Catering and Tourism Corp.
Mindtree Ltd.
Mphasis Ltd.
SRF Ltd.
Tata Power Co.
Zomato Ltd.
Stocks that will be excluded from the standard index:
IPCA Labs Ltd.
REC Ltd.
The compiler added nine stocks to MSCI India Domestic Index. Apart from the seven inclusions to the standard index, these also included Bajaj Holdings and Investment Ltd. and Bharat Electronics Ltd. IPCA Labs and REC were the two exclusions from this gauge as well.
According to Edelweiss Alternative Research, the count of Indian stocks in MSCI Standard Index will increase from 101 to 106 after the adjustment. “As per our assessment, the fresh addition and deletions will lead to total inflow of $1.2 billion (about Rs 8,930 crore). This is excluding weights changes in existing stocks.”