New entrants in MSCI index rally, Godrej Consumer surges 9%

Shares of companies Cairn India, Bank of Baroda and Godrej Consumer Products, which have been included in MSCI global indices, have rallied more than 2% each in an otherwise weak market.

Godrej Consumer Products has rallied over 9% to Rs 567 on the National Stock Exchange. A combined 352,000 shares changed hands on the counter so far, against an average around 300,000 shares that were traded daily in past two weeks. Cairn India and Bank of Baroda are up 3% each on back of huge volumes.

However, Suzlon Energy has slipped 5% at Rs 18.85 on removing from the MSCI index.

All changes in MSCI indices will be implemented on close of May 31, 2012.