MSCI adds 8 new stocks to India Index; drops Reliance Infra

Eight companies including Bharti Infratel, Eicher Motors, Lupin and Bharat Forge will be added to MSCI India Index, while Reliance Infrastructure is being removed.
The shares of the new entrants to the MSCI India index, which is referred by the foreign investors to gauge the sentiments of the Indian markets, rose this morning.
Global indexing and analytics giant MSCI Inc has indices for key markets, along with certain global, regional and theme-based indices.
There are, at present, 64 stocks in MSCI India index, including Infosys, HDFC, TCS, RIL, Sun Pharma and ITC.
The other companies being added to the index include Container Corp of India, Marico, Shree Cement and UPL. All the changes would come into effect from May 29.

The changes have been made to MSCI India and other indices as part of a Semi-Annual Index Review for the MSCI Equity Indexes.

Shares of Reliance Infra rose by over 3 per cent, despite its exclusion from the index.
Lupin was up 0.5 per cent in mid-day trade after paring most of its morning gains, Bharti Infratel was up 2.6 per cent, Eicher rose 3.3 per cent and Bharat Forge was trading 1.4 per cent higher.
Marico was up 6.6 per cent, Container Corp 5.4 per cent, Shree Cement was up 8.4 per cent and UPL was trading 3.2 per cent higher at the BSE.