MSCI Index Reshuffle: 9 Stocks, Including IndusInd Bank and Paytm, Set to Join Global Index

In an upcoming reshuffle on November 15, the Morgan Stanley Capital International (MSCI) Global Standard Index is expected to welcome nine stocks, including IndusInd Bank, Suzlon Energy, Persistent Systems, APL Apollo, and One97 Communications, the parent company of Paytm. Analysts, as highlighted by Nuvama Alternative & Quantitative Research, anticipate these additions to the closely monitored index.

According to the brokerage report, the debut of IndusInd Bank in the index is expected to attract $290 million in inflows. Other anticipated inflows include $264 million for Suzlon, $258 million for Persistent Systems, $163 million for One97 Communications, and $227 million for APL Apollo.

In addition to these names, the report suggests that several other companies may join the MSCI Standard Index in the rejig, including Polycab ($190 million inflows), Macrotech Developers ($183 million), Tata Motors DVR ($173 million), and Tata Communications ($160 million).

Nuvama Alternative & Quantitative Research reaffirms its top conviction picks for both the Standard Index and the Small-cap Index as the global cut-off period for MSCI’s November 23 Rejig approaches. The brokerage expects the selection day to occur in the initial days of the cut-off period, spanning from October 18th to 30th, with the official announcement scheduled for November 14th and adjustments taking place on November 30th.

On the same day, MSCI will announce changes to the MSCI Smallcap index. The report outlines potential additions to the Smallcap index, including 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 inflows ranging from $3 million to $7 million.

The MSCI November 23 Rejig Announcement is scheduled for November 15th.