The MSCI quarterly index review changes will take effect from May 29, 2019, said the MSCI release
Divi’s & Container Corp may be removed from MSCI India Index
Shares of Grasim Industries rose by nearly 4 per cent today after the company was included in the MSCI India index with effect from close of February 28.
Analysts say if the shareholder approval comes before the cut-off date of MSCI review, then the weight of BPCL in the MSCI India Index can increase. Currently, it has 0.41 percent weightage in the index.
In March 2009, the same stood at 15 percent of the total market cap and 36 percent of free float, which rose to 23 percent and 47 percent respectively at the end of December The steep rise was driven by the optimism about Narendra Modi Government unleashing reforms, BofA-ML Global Research said in a report today.
HDFC Bank shares plunged sharply on Friday following a sell off by foreign funds after it was deleted from the MSCI India index. Experts say the fall is short-term in nature.
A lower-risk investment approach by Aberdeen has trumped Duggal's riskier strategy, which had paid off handsomely for years, in a dramatic change of fortunes for the two largest India funds geared to foreign investors.
"Good monsoons have raised the prospect of strong non-performing liabilities (NPL) recoveries post the festive season in the second half of FY14. This should help lower NPLs of Mahindra & Mahindra Financial Services by end of the year," Deutsche Bank report said.
The index provider has added the financial arm of the M&M group to its India index, effective from close of August 30, as per a statement.
Country's largest car maker Maruti Suzuki India moved down 1 percent on Thursday as index provider MSCI will remove the stock from its MSCI India index.
Country's largest car maker Maruti Suzuki fell more than 3 percent in early trade on Thursday as the stock will be excluded from the MSCI India index, index provider MSCI said in a statement on Wednesday after completing its February index review.
NTPC's weight in MSCI India index would rise from 0.63 percent to 1.79 percent as the company's free float stock increases after its offer for sale, Citigroup said in a note, quoting MSCI.
The domestic bourses are expected to witness huge volume during the fag-end of trading tomorrow, due to the likely arbitrage opportunity for the institutional investors as the MSCI India Index is getting revamped.