MSCI adds 8 companies to Global Index in August review; no impact on share prices

In its August review, MSCI, the index provider, added eight Indian companies to its MSCI Global Standard Index, effective September 1. The newly included stocks are Power Finance Corporation (PFC), REC, HDFC AMC, IDFC First Bank, Astral, Cummins India, and Supreme Industries, while ACC has been excluded from the index. This move did not have any impact on the shares today. 

Market data from Nuvama Alternative and Quantitative Research suggests that PFC and HDFC AMC could experience inflows of $203 million and $153 million, respectively. On the other hand, IDFC First Bank might attract inflows of $204 million. Similarly, according to these estimates, Ashok Leyland, Cummins India, and Astral are expected to receive inflows of approximately $196 million, $173 million, and $170 million, respectively.

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Despite the changes in MSCI’s Global Standard Index, there have been no significant fluctuations in the companies’ share prices.

IDFC First Bank shares were down by 0.21 per cent, HDFC AMC shares were up by 0.16 per cent, PFC was down by 0.82 per cent, Astral’s shares were up by 0.03 per cent, Cummins India’s shares were down by 0.77 per cent, and ACC Ltd’s shares were down by 0.01 per cent on 11.20 am on BSE.