The results of the November 2021 Semi-Annual Index Review for the MSCI Equity Indexes have been announced by MSCI Inc, a prominent provider of research-based indexes and analytics, and all of the modifications mentioned will be implemented as of November 30.
The MSCI India Domestic Index’s composition will change as of November 30, 2021, with the addition of nine stocks and the deletion of two.
The standard index has been updated to include Zomato, SRF, Tata Power, Mindtree, Godrej Properties, Indian Railway Catering and Tourism Corporation (IRCTC), Mphasis, Bharat Electronics, and Bajaj Holdings And Investment Ltd. IPCA Laboratories and REC are the two removals in the meantime.
MSCI (Morgan Stanley Capital International), a worldwide index provider, rebalances its indices semi-annually and quarterly. The rejig for its November semi-annual index rebalancing will take place on November 30, 2021, with the change taking effect on December 1.
According to a survey by brokerage and research firm Edelweiss, including firms like IRCTC, Zomato, Tata Power, SRF, Mindtree, and Mphasis in the standard index will help India see $1.3 billion in passive flow.
On the other side, 64 stocks have been added to the MSCI India Domestic Small Cap Index, including Allcargo Logistics, ABB Power, Asahi India Glass, Chemplast Sanmar, Carborundum Universal, Hikal, and others.
Ten stocks, including DCB Bank, Gulf Oil Lubricants, JSW Energy, and Ujjivan Financial Services, have been removed from the MSCI India Domestic Small Cap Index.
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