MSCI Global Index shake-up: RVNL, Vodafone Idea enter, Bandhan Bank slips out

Rail Vikas Nigam (RVNL) and Vodafone Idea stand among 7 stocks granted seats at the MSCI’s Global Standard index while Bandhan Bank was excluded as part of the global index service provider’s August rejig.

Due to this inclusion, RVNL is likely to attract passive fund inflows worth $219 million while Vodafone Idea may likely be infused with $278 million, as per the estimates by domestic brokerage firm Nuvama Alternative & Quantitative Research.

Meanwhile, Bandhan Bank will likely witness outflows worth $125 million due to the exclusion.


Others that have been included in the index are Dixon Technologies India, Oil India, Zydus Lifesciences, Prestige Estates Project and Oracle Financial Services Software (OFSS).

The domestic brokerage has also estimated the amount of inflows that these newly included stocks are likely to expect.

Dixon Technologies may attract the highest passive inflows of $281 million followed by Oil India with expected inflows worth $238 million. Zydus Lifesciences may see inflows of $230 million, Prestige Estates Project $181 million and OFSS $170 million.

The global index service provider has also increased the weightage of HDFC Bank, Bharti Airtel, Coal India, Mphasis, Hindustan Petroleum (HPCL), ICICI Lombard General Insurance and Persistent Systems.

HDFC Bank’s weightage increase was a much awaited one, however MSCI announced that as an exception, the same will be done in two tranches.

On the flip side, stocks like Maruti Suzuki India, LTIMindtree, Ambuja Cements, Adani Enterprises, Yes Bank and SRF saw an decrease in the MSCI’s Global Standard Index.

Also read: Ola Electric shares skyrocket 71% in 3 days, market cap crosses Rs 51,000 cr mark

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)