Concor, Tata Elxsi shares drop after exclusion from MSCI Standard Index

The MSCI announced changes to its key indices, with Fortis Healthcare, GE Vernova, One 97 Communications, and Siemens Energy making the cutoff into the Global Standard Index

Shares of Container Corporation of India Ltd. and Tata Elxsi Ltd. traded lower on Thursday after they were removed from the MSCI Global Standard Index.

 

Container Corp shares fell as much as 4.07 per cent to ₹520.5 per share, the steepest decline since August 6 this year, while Tata Elxsi shares fell 2.06 per cent to 5,222 apiece, the most since October 10. As of 12:43 PM, Container Corp and Tata Elxsi were trading 3.5 per cent and 2.5 per cent, respectively, compared to a 0.12 per cent decline in the Nifty50 index.  

 

So far this year, Container Corp shares have fallen 17 per cent while Tata Elxsi scrip has declined by 23 per cent. The Nifty is up 8 per cent in the same period.

 

MSCI November rejig

The global index aggregator announced changes to its key indices, with four stocks, including Fortis Healthcare, GE Vernova, One 97 Communications, and Siemens Energy, making the cutoff into the Global Standard Index.

 

According to reports, Nuvama Alternative & Quantitative Research estimates that the exclusion of Container Corporation and Tata Elxsi may witness outflows of up to $162 million. 

 

In the MSCI India Domestic Small Cap Index, seven companies were included, while 33 stocks saw deletion from the index. Astral, Blue Jet Healthcare, Container Corp, Honeywell Automation, Leela Palaces, Tata Elxsi and Thermax were the companies to be included in the small-cap index.   ALSO READ | MSCI Nov rejig: Should you add Paytm, Fortis, GE Vernova to your portfolio?

Tata Elxsi Q2 results

The technology services company Tata Elxsi reported a 32.5 per cent decline in net profit to ₹154.81 crore for the second quarter of FY26. On a sequential basis, however, the company recorded a 7.2 per cent rise in profit after tax from ₹144.37 crore in the previous quarter.

 

The Tata Group firm’s revenue from operations dropped to ₹918.1 crore in the quarter, compared to ₹955.09 crore in the corresponding period of the previous financial year.

Container Corp Q2 update

In Q2, the company's total throughput stood at 14,40,724 twenty-foot equivalent units (TEUs), as compared to 13,03,402 TEUs last year. The EXIM stood at 10,93,453 TEUs in Q2FY26, as compared to 10,05,755 TEUs a year ago, up 8.72 per cent. EXIM (Export-Import) refers to the entire process of international trade involving the movement of goods across borders using shipping containers.

 

Further, domestic throughput stood at 3,47,271 TEUs, as compared to 2,97,647 TEUs a year ago, up 16.67 per cent year-on-year (Y-o-Y).