According to Nuvama, Vodafone Idea and SAIL shares are expected to be included to the MSCI Global Standard index in August
According to Nuvama’s most recent report, the August review is anticipated to see Vodafone Idea Ltd. included to the MSCI Global Standard index. According to the report, a number of companies, including Oberoi Realty, Zydus Lifesciences, SAIL, and Prestige Estates, could need a 10% increase in order to join the MSCI index.
Following Vodafone Idea shares, which might bring in $213 million, are Oberoi Realty, Zydus Lifesciences, and Prestige Estates, which could bring in $136–137 million. The third week of July is the formal deadline, and August 13 is most probable when MSCI makes its decision.
Other expected additions, according to Nuvama, include Thermax ($130 million), FSN E-Commerce Ventures Ltd ($127 million), Alkem Laboratories ($126 million), and SAIL ($124 million). ACC, United Breweries, and Oil India are a few equities that need a 10–20% increase in price before being included in the MSCI.
India now makes up 18% of the MSCI Emerging Market Index, a huge increase from only 8% at the beginning of 2020. Nuvama expects the EM Index will surpass the 20 percent mark by the latter part of 2024.
The local brokerage has reiterated the names of their convictions for the Standard and Small-cap Index for May 2024. Another exciting overhaul is planned for the May review, as we expect about $2 billion to enter India. Most of the brands’ preemptive price actions have already been taken into account,” it said.
A few of the stocks that Nuvama finds on the May inclusion list are Indus Towers ($238 million), Phoenix Mills ($217 million), PB Fintech ($223 million), Sundaram Finance ($209 million), and Torrent Pharma ($179 million). Waaree Renewables, Vedant Fashions, Sanghvi Movers, R R Kabel, and other companies are anticipated to be added to the MSCI Smallcap index in May.
India now has 136 stocks in the MSCI Standard Index/EM Index; Nuvama predicts that number to rise to about 145 by the next May review.
