MSCI adds Tech Mahindra, YES Bank, Nestle

The MSCI (Morgan Stanley Capital International) India index will see the addition of three companies, including Tech Mahindra and YES Bank, while four entities would be dropped with effect from November 26.

Index provider MSCI on Thursday said it would add shares of Nestle India, Tech Mahindra and YES Bank to its MSCI India index.

However, Bank of India, Canara Bank, Wockhardt and Unitech would be dropped from the index, according to a statement dated November 7. All the changes would be effective as of the close of trade on November 26, the index provider said.

Reacting to the news of addition, Tech Mahindra shares were trading 5.80 per cent higher, while Nestle India rose by 0.70 per cent on the BSE. On the other hand, shares of Bank of India were quoting 0.97 per cent lower, while Canara Bank dropped 1.63 per cent, Wockhardt (-1.65 per cent) and Unitech (-0.30 per cent).

MSCI is a leading provider of benchmark indices globally.