MSCI India index rebalancing could see inclusion of 18 stocks with inflow of $2.7 bn

New Delhi, April 9 (IANS) MSCI India Standard Index rebalancing announcement scheduled on May 14 is expected to see one of the largest inclusions of 18 stocks with inflows of $2.7 billion.

JM Financial Institutional Securities said the price cut-off date for the rebalancing is any of the last 10 business days in the month of April.

“Based on the current price, we expect the following inclusions and exclusions. However, the list is subject to change, depending on the stock price prevailing during the cut-off period. Interestingly, the index is expected to see one of the largest inclusions. Based on the current price, an inclusion of 18 stocks cannot be ruled out, totalling an inflow of $2.7 billion,” the brokerage said.

The expected inclusions are Canara Bank, Voltas, Sundaram Finance, PB Fintech, Dixon Technologies, The Phoenix Mills, Indus Towers, Bosch, Zydus Lifesciences, Torrent Power, NHPC, Alkem Laboratories, FSN E-Commerce Ventures, Jindal Stainless, Steel Authority of India (SAIL), ACC, Oil India, Solar Industries. The exclusion could be One97 Communications, the brokerage said.