Three insurers, RBL may be part of MSCI India index

MSCI is likely to add RBL Bank, ICICI Lombard General Insurance, SBI Life Insurance and HDFC Life Insurance in the MSCI India index in the forthcoming review, according to ICICIdirect. All the probable companies belong to the financials space.

The brokerage said these stocks are eligible for inclusion in the MSCI India index and are likely to be included in the upcoming index reviews.

The half yearly review for MSCI India will be announced on May 13 which will be applicable from May 29.


“Higher free float, more room for foreign investors to buy and price performance has made these stocks eligible for inclusion. In case of SBI Life and HDFC Life, free float has increased because of OFS,” said Amit Gupta, Head of Derivatives, ICICIdirect.

The eligibility of a stock for inclusion in the index is based on the MSCI Global investable indices methodology, the brokerage said. With 80 constituents, the MSCI India index covers around 85% of the Indian equity universe. Financial services has the highest weightage in the index followed by technology space.