Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit
INDIA

MSCI To Add 12 Indian Stocks to its Global Standard Indices

MSCI will add 12 Indian stocks to its global standard indices and remove two others, as a part of its November 2020 Semi-Annual Index Review. The world’s largest index compiler has also made changes in other indices including MSCI Emerging Markets (EM) Index. 
As many as 12 companies, including Trent and Kotak Mahindra Bank, have been added to the MSCI India Index, while Bosch and LIC Housing Finance will move out, according to the latest MSCI Global Standard Index announcement.
Others who made their way to the MSCI India index are ACCAdani Green EnergyApollo HospitalsBalkrishna Industries, IPCA Laboratories, Kotak Mahindra Bank, Larsen & Toubro InfotechMRFMuthoot FinancePI IndustriesTrent Limited, and Yes Bank.
The changes in constituents for the MSCI global standard indices will take place as of the close of November 30, 2020.
According to Morgan Stanley’s estimates, Kotak Mahindra Bank’s addition to the index may result in inflows of $502 million. Motilal Oswal Financial Services’ calculations see Kotak Mahindra Bank’s inclusion fetching Rs 5079 crore inflows.
Shares of Trent zoomed 11.66 percent, Apollo Hospitals jumped 6.19 per cent, Adani Green Energy 5 percent, Balkrishna Industries rose 4.99 per cent, Yes Bank gained 4.95 per cent, IPCA Laboratories 3.86 percent, and PI Industries 3 per cent.
Kotak Mahindra Bank rose 2.97 percent, Larsen & Toubro Infotech 2.61 per cent, Muthoot Finance 2.41 percent, MRF 1.58 percent, and ACC advanced 1.22 percent on the BSE.
MSCI Global Standard Index is widely used by international fund houses for benchmarking global equities portfolios. All changes will be implemented as of the close of 30 November 2020.

Get Daily Prediction & Stocks Tips On Your Mobile