Morgan Stanley Capital International (MSCI) will rejig its MSCI Standard Index on November 15 and analysts are eying IndusInd Bank, Suzlon Energy, Persistent Systems and One97 Communications' entry into the much-tracked index.
According to Nuvama Alternative & Quantitative Research, IndusInd Bank's entry will bring inflows worth $290 million into the stock. Suzlon could see $264 million, while it may be $258 million for Persistent Systems and $163 million for Paytm's parent One97 Communications.
Apart from these names, APL Apollo, Polycab, Macrotech Developers, Tata Motors DVR and Tata Communications could also enter the MSCI Standard Index, bringing in flows worth $227 million, $190 million, $183 million, $173 million and $160 million, respectively.
In fact, Polycab and Macrotech Developers are also likely to enter AMFI's largecap category in January 2024. Similarly, Suzlon is likely to become a midcap from smallcap.
Inclusion or increase in stock weightage in global indices leads to inflows from passive funds, which track that index. Exclusion from FTSE, MSCI and other global indices usually leads to outflows.
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On the same day, MSCI will also announce changes to the MSCI Smallcap index which could see fresh addition of Gokaldas Exports, SJVN, HCC, PTC India, Gateway Distriparks, Arvind Ltd, Electrosteel, DB Realty, Orient Cement and Gabriel India.
Astra Microwave, Lloyds Engineer, Jai Balaji, AGI Greenpac, Tilaknagar Industries, Redtape, PG Electroplast, IFCI, Man Infra, Force Motors, Texmaco Rail, Pricol and Wonderla could also be added to the smallcap index, Nuvama said.
Each of these stocks could see inflows anywhere between $3-7 million dollars, the report said.
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