Maruti Suzuki dropped from MSCI India index

The MSCI (Morgan Stanley Capital International) India index is being reconstituted and will see one deletion that of Maruti Suzuki with effect from February 28.

The said deletion of Maruti Suzuki from the MSCI index is pursuant to the February 2013 quarterly index review for the MSCI equity indices.

Maruti Suzuki India will be the only deletion from the MSCI India Index and there will be no addition to the index, MSCI said in a statement.

It said the changes in constituents for the MSCI India Index will take place at the close of February 28, 2013.

Reacting to the news of its deletion, share price of Maruti Suzuki India tanked as much as 3.52 per cent from its previous closing price and saw an early low of Rs 1,481.30 on the BSE.

As part of the MSCI February Index review, changes have also been made in MSCI Global Standard, MSCI Global Small Cap and MSCI Micro Cap Indices, MSCI Global Value and Growth Indices and MSCI Frontier Markets.

Changes have also been made in MSCI Frontier MarketsSmall Cap Indices, MSCI Global Islamic and MSCI Global Islamic Small Cap Indices, MSCI Pan-Euro and MSCI Euro Indices, MSCI US Equity Indices, MSCI US REIT Index and MSCI China A Indices.