3 Adani stocks, SBI Cards added to MSCI India Index, 33 new shares in small cap index; check full list

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Updated: May 12, 2021 4:38 PM

Global indices provider MSCI will add six stocks to its India index, including Adani Enterprises and SBI Cards and Payment Services, and will remove Zee Entertainment Enterprises from the index

MSCI, MSCI IndiaChanges announced by MSCI will come into effect from May 29. (Image: REUTERS)

Global indices provider MSCI (Morgan Stanley Capital International) will add six stocks to its India index, including Adani Enterprises and SBI Cards and Payment Services, and will remove Zee Entertainment Enterprises from the index, it said. The changes are part of its May 2021 semi-annual index review. Investors across the globe follow MSCIs indices, and international funds often construct their portfolios based on MSCI’s global indices. Earlier this year, MSCI tweaked its methodology for picking stocks that may be added to its indices.

MSCI India Index — Six stocks in… 

These six stocks would be added to the MSCI India index with effect from May 27:

… One stock out

This one stock will be moved from the MSCI India Index to the MSCI Small Cap Index:

MSCI India Small Cap Index — 33 stocks in… 

Further, MSCI will add these 33 smaller Indian stocks to its MSCI India Small Cap Index:

… 5 stocks out

These five stocks will be removed from MSCI India Small Cap Index, including those that are being moved to the MSCI India Index:

  • Adani Total Gas
  • Cholamandalam Investment and Finance
  • Hemisphere Properties
  • KRBL
  • Mishra Dhatu Nigam

Massive fund inflows expected: Which stock will get how much

Earlier last month, brokerage firm Edelweiss predicted Adani Enterprises weightage to be 0.49%, and Adani Total Gas and Adani Transmission weightage to be 0.44% each upon inclusion into the MSCI India Index. Hemang Jani, head — equity strategy, broking and distribution, Motilal Oswal Financial Services, said he expected addition of Adani Enterprises, Adani Transmission and SBI Cards. Here’s what how much fund inflows Edelweiss and Hemang Jani of Motilal Oswal expect into these stocks:

  • Adani Enterprises: $243-250 million
  • Adani Total Gas: $221 million
  • Adani Transmission: $218-224 million
  • SBI Cards and Payment Services: $141 million

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