The world’s largest index compiler, Morgan Stanley Capital International (MSCI) Inc., on Thursday announced key changes in its MSCI India index, which largely reflects the performance of the Indian stock markets. It has added eight companies and deleted six from the India index. The changes will come into effect after close of trade on 26 November.
The additions to the MSCI India index included Berger Paints, DLF, HDFC AMC, ICICI Prudential Life Insurance Company, Indraprastha Gas, Info Edge, SBI Life, Siemens India. Those deleted included BHEL, Glenmark Pharmaceuticals, Indiabulls Housing Finance, L&T Finance, Vodafone Idea and Yes Bank.
The latest rejig will raise the total number of stocks in the index to 84 from 80 earlier. Changes will come into effect after close of trade on 26 November.
After the current round of changes, the weightage of MSCI’s top 10 constituents will be as follows: HDFC Bank Ltd.: 10.14 percent Reliance Industries Ltd.: 8.42 percent HDFC Ltd.: 7.03 percent ICICI Bank Ltd.: 5.42 percent Infosys Ltd.: 4.77 percent Tata Consultancy Services Ltd.: 4.29 percent Kotak Mahindra Bank Ltd.: 3.94 percent Axis Bank Ltd.: 3.35 percent ITC Ltd.: 3.18 percent Hindustan Unilever Ltd: 2.85%
MSCI has also rebalanced its Global Standard Index, adding seven stocks and deleting four. The additions included Berger Paints, Colgate, DLF, SBI Life, HDFC AMC, ICICI Prudential Life and Siemens. Meanwhile, the deletions from the global index include Glenmark, Indiabulls Housing, Vodafone Idea, and Yes Bank. The MSCI India Small Cap Index also saw 17 addition and 33 deletions.