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MSCI adds Info Edge, Indraprastha Gas to India Index; YES Bank, BHEL out

MSCI Global Standard Index is widely used by global fund houses for benchmarking global equities portfolios.

Press Trust of India  |  New Delhi 

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MSCI, the world's biggest index compiler, has added eight Indian stocks including HDFC Asset Management, (India) and Ltd to its India Index, while removing Vodafone Idea, and four others that have seen significant market capitalisation erosion this year.

It has added eight companies and deleted six from the India Domestic Index. Those deleted include Bharat Heavy Electricals Ltd (BHEL), Glenmark Pharmaceuticals, Indiabulls Housing Finance, L&T Finance Holdings, Vodafone-Idea Ltd and Yes Bank, said in a statement.

Those added to the India Index include Berger Paints, DLF, HDFC Asset Management, ICICI Prudential Life, Ltd, (India), SBI Life Insurance Co and Siemens India.

MSCI added seven stocks and deleted four from MSCI Global Standard Index. The additions included Berger Paints, Colgate, DLF, HDFC AMC, ICICI Prudential Life, SBI Life, and Siemens. Meanwhile, the deletions from the global index include Glenmark, Indiabulls Housing, Vodafone Idea, and

MSCI Global Standard Index is widely used by global fund houses for benchmarking global equities portfolios.

The changes were announced by Morgan Stanley Capital International (MSCI) in its semi-annual rebalancing of the Global Standard Index.

Those axed are mostly debt-burdened companies that have seen a sharp erosion in their market values in the last one year.

The changes will be effective at the close of November 26, the index provider said.

Its India Domestic Small Cap Index saw 17 additions and 33 deletions.

Those added to the small cap index include Adani Green Energy, BHEL, Castrol India, Glenmark Pharmaceuticals, IndiaBulls Housing Finance, Infibeam Avenues, L&T Finance Holdings, Vodafone-Idea and

Prominent among the deletions are Adani Transmission, Arvind, CARE Ratings, CG Power & Industrial, Cox & Kings, Dewan Housing Fin Corp, IFCI, IGL, (India), Reliance Capital, Reliance Infrastructure and Muthoot Finance.

First Published: Fri, November 08 2019. 12:00 IST
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