Business Standard

MSCI tweaks its India index

Related News

Divi’s Laboratories and (UB) made their way into the in the global index provider’s semi-annual review. While the two stocks replaced United Phosphorus and GMR Infrastructure on the index, MSCI also tweaked the weightages of several top stocks on the index.

Analysts estimate that Divi’s and UB could attract foreign institutional flows worth $40 million each as part of the index rejig effective November 30. About $20 million worth of overseas money could move out of United Phosphorous and GMR each due to the changes, they said.

Foreign institutional investors such as index and exchange traded funds widely track the MSCI indices.
 

CHANGING ALLOCATIONS
The new weightage of companies in the tweaked MSCI India index
In % Weight Increase/Decrease
HDFC 8.24 0.75
Cairn India 1.21 0.63
HCL Tech 0.95 0.57
Divi's 0.35 0.35
Reliance Industries 7.89 0.11
Tata Motors 1.51 -1.45
UltraTech 0.54 -0.55
United Phosphorus 0.00 -0.20
Source: MSCI

MSCI has also announced change in weightages of several components on its India Index. These changes include significant reduction in weights of and UltraTech Cement, with additions in and Cairn India.

The weightage of Reliance Industries on the index will reduce by a slight 0.11 percentage points to 7.89 per cent. Shares of mortgage lender, HDFC, which will see a 0.75 percentage points increase in its weightage to 8.24 per cent, on Thursday rose 0.88 per cent to Rs 788.7 on the BSE. Meanwhile, Cairn India, which will see its weightage almost double to 1.21 per cent, on Thursday rose 1.61 per cent to Rs 337.40. Technology firm HCL Technologies, too, will see its weightage double to 0.95 per cent.

Read more on:   
|
|
|
|
|
|
|

Read More

Sebi exempts CARE Ratings from IPO grading process

The Securities and Exchange Board of India (Sebi) has exempted rating agency Credit Analysis and Research (CARE Ratings) from the mandatory grading ...

Quick Links

 

Market News

Markets weak; investors cautious ahead of US Fed policy

Sensex was down 50 points with 26,766 and the Nifty slipped to 8,023

Gold futures up marginally on global cues

Investors build fresh positions ahead of Federal Reserve meet today

Mastek zooms 25% in two days on demerger plan

The company on Monday announced the demerger of its insurance products and services business into a new company called Majesco.

Sensex hovers around 26,800; ONGC, Tata Motors top losers

Main losers on the Sensex are ONGC, Tata Motors, Axis Bank, HDFC, Sesa Sterlite and GAIL

Tata Motors declines on weak global sales

Tata Motors dipped 1% after global wholesales in August 2014 stood at 73,524 units showing a declination of 10%

Back to Top