MSCI Inc, a leading provider of research-based indexes and analytics, on Friday announced adding seven of the companies including Zomato, IRCTC and Mindtree, in its MSCI India Index under its Semi-Annual Index Review.
“….announced November 2021 Semi-Annual Index Review for the MSCI Equity Indexes – including the MSCI Global Standard, MSCI Global Small Cap and MSCI Micro Cap Indexes, the MSCI Global Value and Growth Indexes, the MSCI Frontier Markets, and MSCI Frontier Markets Small Cap Indexes, the MSCI Global Islamic Indexes, the MSCI US Equity Indexes, the MSCI US REIT Index, the MSCI China A Onshore Indexes and the MSCI China All Shares Indexes,” said MSCI in its press release.
The changes are likely to be implemented by nearly November 30, 2021, it said.
Godrej Properties, Indian Railway Catering and Tourism Corporation (IRCTC), Mindtree, Mphasis, SRF, Tata Power Company, and Zomato are the selected companies to be added MSCI India Index w.e.f December 1, 2021.
Multinational restaurant aggregator platform– Zomato made its debut on Indian bourses in July this year. It is the only new company that will become a part of the index.
Before this, Godrej Properties, IRCTC, Mindtree, Mphasis, SRF, and Tata Power became a part of the Global Small Cap Indexes
However, Ipca Laboratories and REC will mark an exit from the MSCI India index, said the MSCI.
Under the smallcap section, MSCI has introduced 69 companies in its Global Small Cap Indexes, however, 10 of the companies bid adieu to the index.
ABB Power Products, Allcargo Logistics, Angel One, BSE, Brookfield India REIT, Chalet Hotels, Delta Corp, eClerx Services, Equitas Small Finance Bank, HFCL, Hikal, Jubilant Ingrevia, Mastek, NIIT, Paisalo Digital, Rossari Biotech, REC, Shree Renuka Sugars, Sterling Wilson & Solar, TCI Express, TVS Motor, and Tejas Networks are among the 69 companies that will become a part of Global Small Cap Indexes.
Latest debutants on the Indian bourses– CarTrade Tech, Clean Science, Chemplast Sanmar, Devyani International, Home First Finance, MTAR Technologies, Nazara Technologies, and Nuvoco Vistas Corporation are also getting included in Smallcap index.
Global Small Cap Indexes will mark the Goodbye of these companies– Godrej Properties, DCB Bank, Gulf Oil Lubricants, IRCTC, JSW Energy, Mindtree, Mphasis, SRF, Tata Power and Ujjivan Financial Services.
MSCI Inc makes changes on its index, generally on a quarterly and semi-annual basis. In a separate announcement, MSCI declared dates for the next index reviews. February 2022 quarterly index review will come out on February 9, 2022, and the changes will take place from March 1, 2022.
The announcement for the next Semi-Annual Index Review will be on May 12 and the changes will be effective from June 1, 2022.