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Last Updated : Nov 07, 2019 10:07 AM IST | Source: Moneycontrol.com

SBI Life Insurance, ICICI Prudential likely to be included in MSCI index

ICICI Direct believes these stocks will be chosen on the higher free float market cap criteria.

 
 
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SBI Life Insurance Company and ICICI Prudential Life Insurance are likely to be included in the MSCI index from December onwards, ICICI Direct has said.

These stocks are likely to be included in the upcoming MSCI reviews, it added.

The half-yearly review for MSCI India will be announced on November 10, 2019, which will be applicable from December 1, 2019.

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The brokerage believes these stocks will be chosen on the higher free float market cap criteria.

Insurance stocks have been the biggest gainers in the last one year with ICICI Prudential rising 45 percent and SBI Life up 68 percent. Most experts believe these stocks are expected to be in demand due to low penetration of life insurance sector in India compared to developed countries.

On the other side, ICICI Direct believes due to the lower free float market cap, Indiabulls Housing Finance, and Glenmark Pharma may be excluded from the MSCI India index.

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First Published on Nov 7, 2019 10:07 am
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