MSCI India Index rejig: IRCTC, Zomato, Tata Power, 6 other stocks added


MSCI Inc, a leading provider of research-based indexes and analytics, has announced the results of the November 2021 Semi-Annual Index Review for the MSCI Equity Indexes and all the changes announced will be implemented as of the close of November 30.

The changes in constituents for the MSCI India Domestic Index includes inclusion of nine stocks whereas deletion of two stocks, which will take place as of the close of November 30, 2021.

Zomato, SRF, Tata Power, Mindtree, Godrej Properties, Indian Railway Catering and Tourism Corporation (IRCTC), Mphasis, Bharat Electronics, Bajaj Holdings And Investment Ltd are the additions in the standard index. Meanwhile, the two deletions are IPCA Laboratories and REC.

The global index provider MSCI (Morgan Stanley Capital International) rebalances its indices semi-annually and quarterly. The adjustment for its November semi-annual index rebalancing will take place on November 30, 2021 and the rejig will be with effect from December 1.

A report from brokerage and research firm Edelweiss had suggested that inclusion of stocks like IRCTC, Zomato, Tata Power, SRF, Mindtree and Mphasis inclusion in the standard Index will help India see passive flow of around $1.3 billion.

On the other hand, for the MSCI India Domestic Small Cap Index, 64 stocks have been added which includes Allcargo Logistics, ABB Power, Asahi India Glass, Chemplast Sanmar, Carborundum Universal, Hikal and more.  

Whereas, 10 stocks have been removed from the list of the MSCI India Domestic Small Cap Index, which includes DCB Bank, Gulf Oil Lubricants, JSW Energy, Ujjivan Financial Services.

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