RVNL, Vodafone Idea, Oil India Enter MSCI India Index In August Review
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RVNL, Vodafone Idea, Oil India and four other stocks have been included in the August rejig of the MSCI India index, which is part of the MSCI Global Standard Index.

What Happened: According to MSCI’s official statement, RVNL, Oil India, Vodafone Idea, Oracle Financial Services, Prestige Estate Projects, Dixon Technologies and Zydus Lifesciences have been added to the index. Bandhan Bank has been removed from the index.

Nuvama Alternative and Quantitative Research calculates that RVNL will receive up to $219 million (around ₹1838 crore) inflows, Dixon will get around $281 million (around ₹2359 crore) and Vodafone Idea will rake in $278 million (around ₹2333 crore) after the stocks have been included in the index.

See Also: L&T Tech Enters Long-Term Agreement With Energy Behemoth Shell

India’s weight in the emerging market basket is tentatively around 20% and could cross 22% by year-end, Nuvama noted. The research firm also said India could receive foreign institutional investments of around $2.7 billion to $3 billion (around ₹22,668 crore to ₹25,187 crore).

Additionally, MSCI also announced that HDFC Bank’s weightage in the Global Standard Index will be hiked through two tranches. The first change will happen after the current review.

The second change will happen in the November review if the FPI headroom in HDFC Bank remains above 20% during the November review. Nuvama expects an inflow of $1.8 billion (around ₹15,112 crore) to HDFC Bank after the review.

In the MSCI India Domestic Small Cap Index, 25 stocks have been added including GMR Power, Inox Wind, Inox Green Energy, Paras Defence, TVS Supply Chain and Shriram Pistons.

MSCI India Small Cap Index

AdditionsDeletions
ADITYA VISIONCOCHIN SHIPYARD
AURIONPRO SOLUTIONDIXON TECHNOLOGIES INDIA
BAJAJ HINDUSTHAN SUGARHOUSING URBAN DEV
BANDHAN BANKINDIAN RENEWABLE ENERGY
BHARAT BIJLEEJAIPRAKASH ASSOCIATES
GARWARE HITECH FILMSNETWORK 18 MEDIA & INV
GMR POWER & URBAN INFRA
GO DIGIT GENERAL INS
GULF OIL LUBRICANT INDIA
HERITAGE FOODS
INDIA SHELTER FINANCE
INOX GREEN ENERGY SVCS
INOX WIND ENER
KEYSTONE REALTORS
MAGELLANIC CLOUD
MAX ESTATES
MOSCHIP TECHNOLOGIES
PARAS DEFENCE AND SPACE
PICCADILY AGRO IND
PROTEAN EGOV TECH
SENCO GOLD
SHAKTI PUMPS INDIA
SHARDA MOTOR INDUSTRIES
SHRIRAM PISTONS & RINGS
SUDARSHAN CHEM INDS
TVS SUPPLY CHAIN SOLN
WELSPUN ENTERPRISES

The changes in the index will come into effect on August 30 close.

Read Next: Vodafone Idea Shares Drop As Narrowing Losses Can’t Outweigh Debt Concerns

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ESGNewsEmerging Market ETFsMarketsETFsDixon TechnologiesHDFC BankOil IndiaOracle Financial ServicesPrestige EstatesRail Vikas NigamVodafone IdeaZydus Lifesciences