The next MSCI India Standard Index rebalancing announcement is scheduled for August 7. Leading domestic brokerage house, JM Financial, expects that as many as 4 stocks could be included during the August rejig, and the combined inflow could be as much as $850 million.
Which stocks are likely to be included in MSCI India Index?
Here’s the list of potential inclusions to the MSCI India Index and the potential inflows as a result
1. Swiggy
JM Financial sees a high probability of the Swiggy shares being added to the MSCI India Index at the next rejig in August. The brokerage firm estimates inflows nearing $385 million as a result. The Swiggy share price is up over 11% in 1 month, but there has been a pick-up in the share price since May. As a result, for 2025, the shares are down 34%. The slowdown in the acquisition of new customers and the dip in order volumes continue to be the big worry for the company.
2. Mazagaon Dock Shipbuilders
JM Financial sees a medium probability of Mazagaon Dock Shipbuilders being included in the MSCI India Index at the next rejig. The stock has seen a strong surge in 2025, up nearly 40% so far in 2025, along with the other key defence stocks. JM Financial estimates flows of nearly $187 million. On a 1-year horizon, the stock has delivered nearly a 50% return. The entire list of defence sector stocks has been buzzing in the past 6 months or so.
3. Hitachi Energy India
Another stock that JM Financial sees medium probability of being included in the MSCI India Standard Index is Hitachi Energy India. The brokerage sees a potential inflow of $165 million as a result, and the share price has delivered nearly 13% gains in the last 1 month. The Hitachi Energy India share price has rallied 15% in 2025 so far and has surged over 56% on a 1-year basis.
4. Waaree Energies
A buzzing stock and a play in the renewable power sector, JM Financial sees Waaree Energies as another potential entrant to the MSCI India Index. However, the probability of this stock entering the Index is lower than the other three. However, it is expected to bring in inflows worth $132 million on potential inclusion. The Waaree Energies share price has yielded 19% returns since its listing in October last year. However, over a 1-month period, it is down 4%.
All eyes are now on the official announcement on August 7. The changes on the MSCI India Index would be effective from August 27.