MSCI adds Zomato, IRCTC, Mindtree, 4 others to India index; Ipca Labs, REC to be deleted

MSCI Inc, a leading provider of research-based indexes and analytics, will be including total seven companies, including Zomato, IRCTC and Mindtree, in its MSCI India Index as a part of Semi-Annual Index Review.

"....announced November 2021 Semi-Annual Index Review for the MSCI Equity Indexes - including the MSCI Global Standard, MSCI Global Small Cap and MSCI Micro Cap Indexes, the MSCI Global Value and Growth Indexes, the MSCI Frontier Markets, and MSCI Frontier Markets Small Cap Indexes, the MSCI Global Islamic Indexes, the MSCI US Equity Indexes, the MSCI US REIT Index, the MSCI China A Onshore Indexes and the MSCI China All Shares Indexes," said MSCI in its press release.

All changes will be implemented as of the close of November 30, 2021, it said.

Godrej Properties, Indian Railway Catering and Tourism Corporation (IRCTC), Mindtree, Mphasis, SRF, Tata Power Company, and Zomato will be added in the MSCI India Index with effect from December 1, 2021.

Food delivery giant Zomato got listed on the bourses in July 2021, making the investment double from its issue price of Rs 76. After the MSCI news, it was up 8 percent today. It is the only new company that is getting added in the index.

Earlier Godrej Properties, IRCTC, Mindtree, Mphasis, SRF, and Tata Power were a part of Global Small Cap Indexes

However, Ipca Laboratories and REC will be deleted from the MSCI India index, said the MSCI.

Under the smallcap segment, MSCI added total 69 companies in its Global Small Cap Indexes, however, deleted 10 companies.

ABB Power Products, Allcargo Logistics, Angel One, BSE, Brookfield India REIT, Chalet Hotels, Delta Corp, eClerx Services, Equitas Small Finance Bank, HFCL, Hikal, Jubilant Ingrevia, Mastek, NIIT, Paisalo Digital, Rossari Biotech, REC, Shree Renuka Sugars, Sterling Wilson & Solar, TCI Express, TVS Motor, and Tejas Networks among 69 companies that will be added in Global Small Cap Indexes.

Newly listed companies like CarTrade Tech, Clean Science, Chemplast Sanmar, Devyani International, Home First Finance, MTAR Technologies, Nazara Technologies, and Nuvoco Vistas Corporation are also getting included in Smallcap index.

Companies that are deleted from Global Small Cap Indexes are Godrej Properties, DCB Bank, Gulf Oil Lubricants, IRCTC, JSW Energy, Mindtree, Mphasis, SRF, Tata Power and Ujjivan Financial Services.

Generally MSCI makes changes in its indices on the quarterly as well as semi-annual basis. In a separate release, MSCI announced dates for next index reviews. February 2022 quarterly index review will be announced on February 9, 2022 and the changes will be effective March 1, 2022.

The next Semi-Annual Index Review for May will be announced on May 12 and the changes will get implemented from June 1, 2022.