Aurobindo Pharma rallies nearly 3%, hits fresh 52-week high on MSCI inclusion

NEW DELHI: Aurobindo Pharma Ltd rallied as much as 2.8 per cent in trade to hit its fresh 52-week high of Rs 632.30 on Thursday, after Index provider MSCI added the Pharma major to the MSCI India index, it said on its website on Wednesday.

At 09:40 a.m.; Aurobindo Pharma was trading 1.6 per cent higher at Rs 624.85. It has hit a low of Rs 622.15 and a 52-week high of Rs 632.30.

Also, MSCI added another 13 stocks and deleted the same amount from MSCI global small-cap indexes.

Key additions to MSCI small-cap indexes include Bajaj Corp (up 2.4 per cent), Coromandel International (up 0.4 per cent), Jaiprakash Power (up 5.5 per cent), and Indian Bank (up 2.6 per cent). Changes will be implemented on the close of May 30, Reuters reported.

Multiple dealers say MSCI has also reduced HDFC Bank's weight in the India index by certain percentage points due to existing rules on foreign investment in the lender's stock, added the report. The changes will come into effect on June 2.

The stock was trading 0.7 per cent higher at Rs 781.05. It hit a low of Rs 767.35 and a high of Rs 783 in trade today.

Source: ET Now