Swiggy, Vishal Mega Mart may join MSCI Standard Index, bringing inflows of $1 billion

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26 Aug, 2025 12:21

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Swiggy Ltd, Vishal Mega Mart Ltd, Hitachi Energy Ltd, and Waaree Energies Ltd are four firms that could see their stocks included in the MSCI Standard Index during the August rebalancing, according to domestic brokerage Nuvama Alternative & Quantitative Research.

On the other hand, the brokerage expects Sona BLW Precision Forgings Ltd and Thermax Ltd to be excluded from the index.

The inclusion of the four stocks could lead to inflows worth $1.03 billion, with Vishal Mega Mart and Swiggy bringing in passive flows worth $287 million and $285 million, respectively. The exclusions of Sona BLW Precision Forgings and Thermax will lead to outflows of $186 million and $154 million, each.

The global index provider MSCI is expected to announce the changes on August 8, with the adjustment taking place on August 26, 2025.

Inventurus Knowledge, Capri Global Capital, Brainbees Solutions, Lumax Auto Tech., Belrise Industries, Transrail Lighting, Ather Energy, CSB Bank, India Glycols, Lloyds Enterprises, Yatharth Hospital and Zinka Logistics Solutions are likely to join the MSCI Smallcap Index, according to Nuvama. The inclusion of these counters will lead to a combined inflow of $65 million.

Bharat Dynamics, Bondada Engineering, Hikal and Kennametal India are slated to be deleted from the index, leading to an outflow of $36 million.

Further, based on the brokerage's calculations, Paytm qualified for inclusion as early as Day 4 of the review period. "However, our understanding is that the cut-off period was earlier, which likely pushes Paytm’s inclusion to the November 2025 review. We estimate potential inflows of $270 million, equivalent to approximately 3 days of trading impact," added Nuvama.

During the May rebalancing, Fertiliser company Coromandel International Ltd., and FSN E-commerce Ventures Ltd., parent of of beauty retailer Nykaa, joined the MSCI Global Standard Index as part of MSCI's latest semi-annual review.

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