Stocks included in MSCI India Index in focus; UPL, Bharti Infratel surges over 5%

Bharti Infratel, Container Corp, Lupin, Eicher Motors, Bharat Forge, Marico, Shree Cement and UPL were up 1%-6% each on the NSE.

Shares of eight companies - Bharti Infratel, Container Corp of India, Lupin, Eicher Motors, Bharat Forge, Marico, Shree Cement and UPL - that will be added to the MSCI India Index were trading higher by up to 6% on the National Stock Exchange (NSE).

The change in the index will be effective from the close of trading on May 29, 2015.

MSCI Global Standard Index, an index created by Morgan Stanley Capital International (MSCI), serves as a benchmark of performance in major international equity markets.

At 1350 hours, among the individual stocks, UPL has surged 6% to Rs 550, followed by Bharti Infratel (5.4% at Rs 467), Eicher Motors (3.8% at Rs 18,676), Bharat Forge (3.6% at Rs 1,253) and Shree Cement (3.6% at Rs 11,296), up more than 3% each on the NSE.

Lupin (3% at Rs 1,794), Container Corporation of India (2% at Rs 1,716) and Marico (1.5% at Rs 416) were up 1%-3% compared with a 0.7% rise in the benchmark CNX Nifty.

Experts say passive funds usually buy into MSCI India Index stocks since they track the India-related MSCI indices to gauge overall sentiment. Traders, too, accumulate these from a short–term profit making perspective. CLICK HERE TO READ FULL REPORT.