MSCI rejig: Swiggy, Mazagon Dock among 4 entrants; $850 mn inflows likely

Business Standard

16-06-2025

Swiggy Ltd., Mazagaon Dock Shipbuilders Ltd., Hitachi Energy India Ltd. and Waaree Energies Ltd. are the four stocks that could be added to the MSCI Indexes in the upcoming review this August, according to JM Financial.
The MSCI India Standard Index rebalancing will be announced on August 7 after market hours, the brokerage said in a note. The August 2025 rejig may include up to four additions, drawing estimated inflows of $850 million, it added. The changes will take effect from August 27.
Swiggy is the only 'high' probable stock that could enter the global index aggregator's MSCI India Standard Index. The counter of the food delivery giant has recently come under focus as Rapido is gearing up to enter the food delivery space. Rapido is expected to charge a commission rate of 8-15 per cent from restaurant partners, which is significantly lower than Zomato and Swiggy's 21–22 per cent blended rates.
Shares of Swiggy tumbled 33 per cent so far this year, compared to a 4.8 per cent advance in the benchmark Nifty50 index. The food delivery firm is expected to bring flows worth $385 million, the report said.
Meanwhile, the shares of Mazagaon Dock and Hitachi Energy are under JM Financial's 'Medium Probability' list for the MSCI index inclusion. Mazagaon Dock scrip has cooled off after it saw a rally in May on the back of India's increased geopolitical tensions with Pakistan amid 'Operation Sindoor'.
The stock of the shipbuilding company has fallen 10 per cent in June so far, after a 14 per cent rise in the month before. So far this year, the shares of Mazagaon Dock have surged by 40 per cent. Mazagaon Dock and Hitachi Energy are likely to bring inflows worth $187 million and $165 million, respectively.
Waaree Energies is under the 'Waaree Energies' for its inclusion in the MSCI India Standard Index. With a market capitalisation of ₹80,506.81 crore, the stock has been under consolidation since the end of April. In the year so far, the stock has been almost flat with a 1.8 per cent decline.
Earlier, in the May semi-annual review, MSCI included Coromandel International Ltd. and FSN E-Commerce Ventures Ltd., the parent company of Nykaa, in its MSCI Global Standard Index. There were no deletions from the Global Standard Index, and the changes took place as of the close of May 30, 2025.