MSCI Rejig: HDFC AMC and 7 other stocks enter MSCI Global Index and ACC exits!

As part of its quarterly index review, MSCI Inc., the worldwide index aggregator, will include eight Indian stocks in its Global Standard index and remove one stock.

As per the latest updates, these are the eight stocks that will include in the Global Standard Index HDFC Asset Management, IDFC First Bank, Ashok Leyland, Astral, Cummins India Kirloskar, REC, Power Finance Corporation, and Supreme Industries will take effect on August 31. Whereas, ACC will be eliminated from the MSCI Global Standard Index.

Additionally, there will be some inclusions and exclusions in the MSCI Domestic Index, with one stock being added and another being removed from the index. HDFC Asset Management will be added, while ACC will be removed from the index.

Another MSCI index that is scheduled for rebalancing is the MSCI India Domestic Small Cap Index. In this index, 41 stocks will be added, and 2 stocks will be excluded from the index.

ACC, Anand Rathi Wealth, Dreamfolks Services, Five Star Business Finance, Glenmark Lifesciences, ICRA, Kalyan Jewellers, Marksans Pharma, Mrs Bectors Food, Neuland Laboratories, and Patel Engineering, and Zen Technologies are among 40 stocks that will be part of the MSCI Global Smallcap index with effect from August 31

On the other hand, BEML Land Asset and NIIT will be removed from the MSCI Global Small Cap index.

For over four decades, MSCI (NYSE: MSCI) has assisted global investors in constructing and overseeing improved portfolios. Its tools and services, grounded in research, offer clients profound insights into risk and performance determinants, encompass a wide array of asset classes, and provide innovative approaches to introducing investment strategies to the market. Their array of offerings comprises indexes, data, analytical models, regulatory reporting, and ESG research. MSCI serves clients that include 95 of the world’s top 100 money managers, as ranked by P&I.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.