Global index services provider Morgan Stanley Capital International (MSCI) on Tuesday announced its February 2024 restructuring. It has added NMDC, GMR Airports Infra, Union Bank, BHEL, PNB to the MSCI India Standard Index.
The global index services provider has also announced 27 additions and six deletions from the small cap index on Tuesday. Here is the list:
| Addition | Deletion |
| Balmer Lawrie | Barbeque Nation |
| Banco Products India | GMR Airports |
| Cello World | Prestige Estates |
| Cyient DLM | Privi Speciality Chem |
| DB Realty | RVNL |
| Dhanuka Agritech | Torrent Power |
| Ethos | |
| Healthcare Global Ent | |
| Hemisphere Properties | |
| Honasa Consumer | |
| IIFL Securities | |
| Indian Renewable Energy | |
| ITD Cementation India | |
| J Kumar Infra | |
| Jaiprakash Associates | |
| Jupiter Life Line Hospital | |
| Kesoram Industries | |
| KPI Green Energy | |
| MSTC | |
| Netweb Technologies | |
| Paisalo Digital | |
| RattanIndia Power | |
| Sandur Manganese & Iron | |
| SBFC Finance | |
| SpiceJet | |
| Swan Energy | |
| TARC |
On Monday, it was reported that as per Nuvama Alternative & Quantitative Research, the reshuffling in MSCI's Global Standard Index could lead to passive foreign institutional investor (FPI) inflow of about $800 million to $1 billion into the Indian stock market.
India holds about 17.8% representation in the MSCI EM Index, which may inch up to 18.5% following the February rejig, said Abhilash Pagaria of Nuvama Alternative & Quantitative Research.
Last year, India's stock count in the MSCI Standard index rose to 131, with the inclusion of a net of 17 Indian stocks over the past four reviews. This marks an improvement from 2022, where only a net of 9 Indian stocks were included, Pagaria added.
On another note, the upcoming FTSE Semi-Annual Review, scheduled for announcement on February 16, is expected to bring further market adjustments on March 15.
Potential additions to the FTSE index include Phoenix Mills, Thermax, Suzlon, and Jindal Stainless, with anticipated inflows of $46 million, $26 million, $90 million, and $45 million, respectively. Other stocks under consideration are KIPT Prestige Estates, Mazagon Dock, and RVNL.
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