D-Street shakeup may be triggered by MSCI rejig

Ashok Leyland, Cadila Healthcare, Maruti Suzuki India and Tata Motors DVR have been included in the MSCI India index after the November semi-annual review. DLF and Oil India have been dropped. With several passive funds investing in proportion to weightage in the index, Maruti Suzuki could see FII inflow of about $462 million, according to UBS estimates. Tata Motors DVR could see buying to the tune of $97 million. DVR refers to differential voting rights, or stock that doesn’t have the same voting rights as regular shares. Ashok Leyland and Cadila Healthcare may see purchases of $95 million and $75 million, respectively, when the changes take effect on December 1. Oil India and DLF could see an exit of about $45 million and $25 million, respectively. About 24 companies, including Allcargo, CCL, Dishman Pharma, Escorts, Exide Industries and Force Motors, have been included in the MSCI India Smallcap index. Those dropped were Aban Offshore, Amtek, Catex and Shree Renuka.