MSCI rebalancing could see addition of three Indian stocks, two deletions

Tata Elxsi, Jindal Steel seen as inclusion candidates; move could see a churn of Rs 6,900 crore by funds tracking the index

Three domestic stocks could get added, while two could get removed during global index provider MSCI’s semi-annual index review (SAIR) next month. The move could see a churn worth $900 million (Rs 6,900 crore) by funds tracking the MSCI index.

According to analyst Brian Freitas, who publishes on Smartkarma, Tata Elxsi, Jindal Steel Power and Adani Power are the leading contenders to get added to the MSCI index. This could result in inflows of $280.8 millon (Rs 2,150 crore) in Tata Elxsi, $215.3 million (Rs 1,649 crore) in Jindal Steel Power and $196.1 million (Rs 1,502 crore) in Adani Power.

Meanwhile, HDFC