MSCI quarterly rejig: Oil India, RVNL, Vodafone Idea, others included in India index, Bandhan Bank removed

25 securities will be added to the MSCI India Domestic Small Cap index following the rejig.

Dixon Technologies, Oil India and RVNL are among the seven stocks that will be included in the MSCI India index, following the index provider's quarterly rejig, according to a statement released on August 12.

Oracle Financial Services, Prestige Estates Projects, Vodafone Idea and Zydus Lifesciences are the other firms that will be included in the index as a part of its reshuffle. The only deletion from this list is private sector lender Bandhan Bank.

Nuvama Alternative and Quantitative Research estimates that RVNL shares could attract up to $219 million, while Dixon shares might receive around $281 million, the largest amount. Vodafone Idea could see investments of $278 million after adjustments.

"With all the adjustments in the EM Pack, India’s tentative weight will remain close to 20 percent. India should witness net FII passive inflow of $2.7 billion to $3 billion. Given the current pace and momentum, India could potentially cross 22 percent by year-end," according to Nuvama Alternative & Quantitative Research.

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The India domestic index will also see eight additions: Bosch, Dixon Tech, Oil India, PB Fintech, Phoenix Mills, Rail Vikaas Nigam, Vodafone Idea and Zydus Lifesciences. There will be no exclusions.

GMR Power, Inox Green Energy, Inox Wind, Keystone Realtors, Paras Defence, Senco Gold, Shakti Pumps, TVS Supply Chain, Welspun Enterprises and Shriram Pistons are among the 25 securities which will be added to the MSCI India Domestic Small Cap index.

Eight securities will be excluded, namely: Cochin Shipyard, Dixon Tech, IREDA, Jaiprakash Associates, Network 18 Media, PB Fintech, Phoenix Mills, and RVNL.

The changes in constituents for the MSCI indices will take place as of the close of August 30, 2024.

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