Vodafone Idea, Dixon Technologies Likely To Enter MSCI In August Review, Says Nuvama

Vodafone Idea, Dixon Technologies and Prestige Estates will likely enter the MSCI Global Standard Index in its August review says Nuvama Alternative and Quantitative Research. 

What Happened: MSCI's review period for the price performance is between July 18 to 31. With the official announcement of the MSCI review to be made on August 13 and the adjustments to come into effect on August 31. 

According to Nuvama, India's weightage in the MSCI Emerging Market index is likely to cross 20% mark from the current 19.2%. 

See Also: Adani Group Under The Scanner For Alleged Involvement In Tamil Nadu Coal Import Scam

Vodafone Idea, Dixon Technologies, Prestige Estates, Oberoi Realty, Schaeffler India and Uno Minda are expected to enter the index in the August review. Vodafone Idea is expected to receive inflows of $254 million (around ₹2,122 crore) while Dixon Technologies is likely to get $274 million (around ₹2,289 crore).

The weightage of HDFC Bank, Indus Towers and Mphasis is expected to increase in the coming rejig. HDFC Bank's weightage is expected to increase after FII shareholding in the scrip fell in the June quarter. With HDFC Bank to receive inflows of $3,229 million (around ₹26,979 crore).

Price Action: Shares of the stocks that made the cut mostly rose on Wednesday’s trading session.

Shares of Vodafone Idea gained 2.17% to ₹17.39. 

Shares of Dixon Technologies rose 1.85% to ₹12,748.50. 

Shares of Prestige Estates fell 0.18% to ₹1,840.35.

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