Index provider MSCI incorporated eight Indian stocks into its emerging markets index during its August review. These stocks include Cummins India, IDFC First Bank, Ashok Leyland, Power Finance Corp, Astral, Supreme Industries, HDFC Asset Management Co., and REC. Additionally, these companies also joined the MSCI India Mid Cap Index.
Shuffle in the pack: However, ACC exited the MSCI Emerging Markets Index and entered the MSCI Emerging Markets Small Cap Index. HDFC Asset Management Co. will join the MSCI Domestic Indexes and the MSCI India Domestic Mid Cap Index with a weight of 1.30%.
The MSCI India Large Cap Index welcomed six new stocks: Cholamandalam Investment & Finance Ltd., Varun Beverages Ltd., Interglobe Aviation Ltd., DLF Ltd., ABB India Ltd., and Bank of Baroda Ltd. Meanwhile, IndusInd Bank Ltd., Siemens India Ltd., and DLF Ltd. became the primary entrants to the MSCI Domestic Large Cap Indexes.
More movement: ACC found a spot in the MSCI Emerging Markets Small Cap Index, alongside Star Health and Allied Insurance, Five-Star Business Finance, and Kalyan Jewellers India.
Notably, MSCI removed ACC Ltd. from several indices, including the MSCI India Mid Cap Index and MSCI India Domestic Mid Cap Index. The MSCI Emerging Markets Small Cap Index also saw the exit of companies like IDFC First Bank and Cummins India.
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