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Time of India
15-05-2025
- Business
- Time of India
MSCI adds Coromandel International and Nykaa to Global Standard Index
Synopsis MSCI has included Coromandel International and Nykaa in its Global Standard Index, effective May 30, potentially triggering $408 million in passive fund flows. Simultaneously, 22 stocks were removed and 11 added to the India Small Cap Index, marking a significant shift. Cipla, Indus Towers, and Grasim Industries will see increased weightage, while Astral's weightage will decrease.
Economic Times
15-05-2025
- Business
- Economic Times
MSCI adds Coromandel International and Nykaa to Global Standard Index
Mumbai: Global index provider MSCI said it has added Coromandel International and FSN E-Commerce Ventures (Nykaa) to its Global Standard Index in its May 2025 semi-annual index review. These changes, effective as of market close on May 30, are expected to trigger passive fund flows worth $408 million into the two stocks, according to IIFL Capital Services. ADVERTISEMENT MSCI's index changes result in passive flows because trillions of dollars in global funds track its benchmarks. When a stock is added or removed, index-linked ETFs and mutual funds are forced to buy or sell to mirror the index composition. MSCI made cuts in its India Small Cap Index, deleting 22 stocks while adding 11. The removals from the index could be one of the highest in recent times. "In recent times, more small-cap companies were being added to the MSCI small-cap index. This time, we have seen more deletions than additions, possibly because of a reversal in the trend in small caps," said IIFL's senior vice president, Sriram Velayudhan. Acme Solar, Tata Technologies, Godrej Agrovet, and Hexaware Technologies are among the 11 stocks to be added to the small-cap index. Godrej Industries, Gujarat Alkalies and Chemicals and Aarti Drugs are among the 22 deletions. IIFL said Coromandel's inclusion would result in flows of $227 million, while Nykaa would receive $181 million. ADVERTISEMENT In addition, MSCI said the weightage of Cipla, Indus Towers and Grasim Industries has gone up in the Global Standard Index. This would lead to inflows of $45 million, $40 million and $16 million, respectively, IIFL said. The weightage of Astral went down, which may lead to an outflow of $15 million from the stock. India's weight in the Global Standard Index was 19.4% as on the cutoff date. (You can now subscribe to our ETMarkets WhatsApp channel)
