MSCI Index rejig: Nine stocks including IndusInd Bank, Suzlon Energy, Paytm, likely to enter global index; details here

Analysts expect the addition of IndusInd Bank, Suzlon Energy, Persistent Systems, APL Apollo, and One97 Communications, the parent company of Paytm, to the closely watched Morgan Stanley Capital International (MSCI) World Standard Index, which will be redrawn on November 15 . brokerage Nuvama Alternative & Quantitative Research in its report.

According to the brokerage report, with the launch of IndusInd Bank, the stock will see an inflow of $290 million. Suzlon might get $264 million, Persistent Systems might see $258 million, One97 Communications might get $163 million, and APL Apollo might get $227 million.

In addition to these names, the following companies could also be included in the MSCI Standard Index: Polycab (with an inflow of $190 million), Macrotech Developers (with an inflow of $183 million), Tata Motors DVR (with an inflow of $173 million), and Tata Communications (with an inflow of $160 million), according to the report.

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“As we approach the global cut-off period for the MSCI November 23 Rejig, we are reaffirming our top conviction picks for both the Standard Index and the Small Cap Index. Since the beginning of August 2023, we have consistently highlighted the likely MSCI November 2023 names in multiple cases.

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This note serves as a reiteration of our convictions. The global cutoff period runs from October 18th to October 30th. We expect the chosen day to occur in the early days of the weaning period itself. The official announcement is scheduled for November 14, and adjustments will be made on November 30,” the brokerage said.

On the same day, MSCI will also announce changes to the MSCI Smallcap index. According to the report, these changes may lead to Gokaldas Exports, SJVN, Hindustan Construction Co, PTC India, Gateway Distriparks, Arvind, Electrosteel Casting, DB Realty, Orient Cement, Gabriel India, Astra Microwave, Lloyds Engineer, Jai Balaji Inds, Agi Greenpac Ltd, Tilaknagar Inds, Redtape, PG Electroplast, IFCI Ltd, Man Infraconstruction, Force Motors, Texmaco Rail & Engineering, Pricol, Wonderla Holidays, and PDS Ltd. These changes could result in an inflow of $3-7 million.

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The Rejig MSCI November 23 Announcement is due on November 15

Also read: BSE stock hits record high, up 471% since March; is it still a ‘buy’?

Disclaimer: The above opinions and recommendations are the opinions and recommendations of individual analysts, experts and brokerage firms, not of the Mint. We encourage investors to check with certified experts before making any investment decisions.

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Updated: 14 November 2023, 09:27 AM IST

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