MSCI adds 8 new stocks to India Index; drops Reliance Infra

MUMBAI: Eight companies, including Bharti Infratel, Eicher Motors, Lupin and Bharat Forge will be added to MSCI India Index, while Reliance Infrastructure is being removed.

The other companies added to the index include Container Corp of India, Marico, Shree Cement and UPL. All changes would come into effect from May 29.

The changes have been made to MSCI India and other indices as part of a Semi-Annual Index Review for the MSCI Equity Indexes.

Reacting to this, shares of Eicher rose by 5.50 per cent, Bharti Infratel was up 2.08 per cent and Bharat Forge gained 1.39 per cent.

Shree Cement surged 10.07 per cent, Marico was up 7.25 per cent, Container Corp (5.44 per cent) and UPL (3.82 per cent) at the BSE.

Lupin, however, settled 3.35 per cent lower. Shares of Reliance Infra rose by 5.11 per cent, despite its exclusion from the index.

Global indexing and analytics giant MSCI Inc has indices for key markets, along with certain global, regional and theme-based indices.

There are, at present, 64 stocks in MSCI India index, including Infosys, HDFC, TCS, RIL, Sun Pharma and ITC.

In the broader market, the benchmark BSE Sensex ended 373.62 points up at 27,251.10. The upside was also supported by gains related to inclusion of some stocks in MSCI India index.