 "'Freak trade': Investors push up yields of Indiabulls Housing bonds to 43%")
India’s debt-burdened companies could get kicked out of MSCI Inc.’s benchmark index later this week.
Highly indebted companies including Vodafone Idea Ltd., Indiabulls Housing Finance Ltd. and Glenmark Pharmaceuticals Ltd. are likely to be removed from the MSCI India Index, according to brokers.
Most of these companies have seen a sharp erosion in their market values in the wake of the yearlong crisis in India’s credit market. The troubled private lender Yes Bank Ltd. has slumped more than 60 per cent this year, while Indiabulls was axed from the NSE Nifty 50 Index in September after the mortgage lender’s share value more
