In the upcoming November 2023 rejig of the Morgan Stanley Capital International (MSCI) Global Standard Index, market experts anticipate the addition of IndusInd Bank, Suzlon Energy, One 97 Communications, APL Apollo and Persistent Systems along with others.
According to a research report by Nuvama Alternative & Quantitative Research, IndusInd Bank could become a potential entrant with an approximate flow of $290 million. The list also includes Suzlon Energy, Persistent Systems, APL Apollo with flows of $260 million, $258 million and $227 million, respectively.
Even One 97 Communications, the parent of fintech firm Paytm is likely to make the cut, with a potential flow of $163 million. Polycab India with potential flows of $190 million, Macrotech Developers bringing inflows worth $183 million, Tata Motors DVR and Tata Communication, likely receiving $173 million and $160 million respective inflows, are the remaining names on the list.
Meanwhile, Nuvama does not expect any exits from the global index.
The MSCI Rejig is scheduled to be announced on November 15, around 3:30 p.m. The global cut off period spans from October 18th to 30th, the note mentioned.
For the MSCI Smallcap Index, Nuvama expects 24 new entrants such as Gokaldas Exports and SJVN will flows of about $7 million, followed by Hindustan Construction, PTC India and Gateway Distriparks with flows of $5 million.
Suzlon Energy, Persistent Systems, APL Apollo Tubes, Jindal Stainless and Dalmia Bharat are the top exits among a total of 12 companies from this index.