The Economic Times
English EditionEnglish Editionहिन्दीગુજરાતી
| E-Paper
Search
+

    MSCI rejig: YES Bank, Voda Idea, IB Housing make way for SBI Life, HDFC AMC, DLF

    Synopsis

    The changes in the constituents for the MSCI India Index will take place from November 26.

    Getty Images
    MSCI also made certain changes to the MSCI India Smallcap index.

    Related Companies

    NSE
    BSE

    PEER COMPANIES

    PEER COMPANIES

    NEW DELHI: Global index compiler Morgan Stanley Capital International (MSCI) announced changes to MSCI India index last night wherein it added eight stocks in the index, while decided to delete as many as six counters.

    MSCI added Berger Paints India, DLF, HDFC Asset Management, ICICI Prudential Life, Indraprastha Gas, Info Edge (India), SBI Life Insurance and Siements to the MSCI India index.

    On the other hand, the firm decided to delete Bharat Heavy Electricals (Bhel), Glenmark Pharma, Indiabulls Housing Finance, L&T Finance Holdings, Vodafone Idea and YES Bank.

    The index is designed to measure the performance of the largecap and midcap segments of the Indian market.

    The changes in the constituents for the MSCI India Index will take place from November 26.

    MSCI table 1Agencies
    Source: MSCI

    MSCI also made certain changes to the MSCI India Smallcap index. The index provider added Brigade Enterprises, Deepak Nitrite, Galaxy Surfactants, Glenmark Pharma, Indiabulls Housing Finance, Metropolis Healthcare, Navin Fluorine, Orient Electric, Polycab India, Spandana Sphoorty, Sterling and Wilson, Vodfone Idea and YES Bank in the MSCI India Smallcap index.

    On the other hand, it excluded Arvind, Care Ratings, Info Edge, Jagran Prakashan, Jain Irrigation, Magma Fincorp, Muthoot Finance, PC Jeweller, Reliance Capital, Reliance Infra, Sharda Cropchem, Suzlon, Time Technoplast, Whirlpool of India.

    Shares of YES Bank were trading over 2.50 per cent up at Rs 68.25 in the morning trade, while Vodafone Idea was down over 3 per cent at Rs 3.79.

    msci table 2Agencies
    Source: MSCI

    Meanwhile, benchmark equity indices BSE Sensex & NSE Nifty were trading lower after Moody's Investors Service changed the outlook on India's ratings to 'negative' from 'stable', saying there was increasing risks that economic growth will remain materially lower than the past.

    It affirmed the Baa2 foreign-currency and local-currency long-term issuer ratings for India.
    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

    Also Read

    2 Comments on this Story

    Niveza Equity Research248 days ago
    The Yes bank stock has surprisingly surged today in spite of exclusion from MSCI India Index. Though there is a momentum rise in the stock, the stock has uncertain stages for now which makes Risk -Reward stock with high risk proportion. Some recent elements such as affidavit filled by Citizens Whistle blower forum as well as latest downgrade in ratings by Moody’s are also expected to have repercussions on the stock in near future. We, maintain ‘Neutral’ View on the stock till the Moody’s review period.
    Search Google for Niveza FREE Share Market Tips today.
    Rewarding India248 days ago
    Incredible rejig
    The Economic Times