Ahmedabad: Global index provider MSCI has announced a change in its indices for the month of February. These changes will be effective after the market is closed on 28 February. Under this change, Hyundai Motor India Limited can be included in MSCI’s Global Standard Index. This will be the only Indian Large-CAP stock included in its global benchmark index by MSCI in the February review. The shares of Adani Green Limited have been removed from the index before Hyundai Motor.
Apart from Hyundai India, the weight of several Indian shares has increased in the MSCI Standard Index. These include IndusInd Bank, Jomato Limited, Varun Beverages Limited, Mankind Pharma Limited, Torrent Pharmaceuticals Limited, Dixon Technologies (India) Limited, PB Fintech Limited, Adani Enterprises Limited and Voltas Limited.
On the other hand, the shares that saw the most decline in the weights include Adani Green Energy, Reliance Industries, HDFC Bank, Infosys, ICICI Bank, Bharti Airtel, Tata Consultancy Services, Mahindra & Mahindra, Mahindra, Larsen & Tubero and Axis Bank.
After this change, HDFC Bank has now become the most weighty share in the MSCI index of Indian shares. This is followed by Reliance Industries, ICICI Bank, Infosys and Bharti Airtel.
In the Small-Cap segment, the MSCI index removed 19 Indian stock pairs and the same number of stocks from the index. Top 10 new stocks include Jyoti CNC, Ola, Car Trade, Facons Infrastructure, TBO Tech, Websol Energy, Zegel Prepaid, Style Engineering, Kovai Medical and Greaves Cotton Limited.
According to a report by Nuwama Alternative and Quantitative Research, the Indian shares that have increased in MSCI’s Global Standard Index can attract a passive investment of $ 850 million to $ 1 billion from $ 850 million or about Rs 8,500 crore. Its largest beneficiary will be Hyundai, an estimated investment of around $ 250 million.
