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Last Updated : Aug 08, 2019 11:12 AM IST | Source: Moneycontrol.com

HDFC Life hits record high after MSCI adds stock to Global Standard Index

MSCI Inc said the changes in MSCI Index will be implemented as of the close of August 27, 2019

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Shares of HDFC Life Insurance Company gained more than 5 percent intraday to hit a record high of Rs 545 on August 8 after MSCI added the stock to its Global Standard Index.

The stock rallied 42 percent in the last six months amid strong demand. It was quoting at Rs 523.10, up Rs 4.80, or 0.93 percent on the BSE at 1044 hours IST.

However, MSCI decided to delete Union Bank of India from its Global Small Cap Index. After this news, shares of Union Bank of India corrected 2 percent at Rs 62.40.

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MSCI Inc said the changes in MSCI Index will be implemented as of the close of August 27, 2019.

MSCI Inc, a leading provider of research-based indices and analytics, does the quarterly index review for its MSCI Equity Indices.

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First Published on Aug 8, 2019 11:12 am
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