In its August review, MSCI, the index provider, added eight Indian companies to its MSCI Global Standard Index, effective September 1. The newly included stocks are Power Finance Corporation (PFC), REC, HDFC AMC, IDFC First Bank, Astral, Cummins India, and Supreme Industries, while ACC has been excluded from the index. This move did not have any impact on the shares today.
Market data from Nuvama Alternative and Quantitative Research suggests that PFC and HDFC AMC could experience inflows of $203 million and $153 million, respectively. On the other hand, IDFC First Bank might attract inflows of $204 million. Similarly, according to these estimates, Ashok Leyland, Cummins India, and Astral are expected to receive inflows of approximately $196 million, $173 million, and $170 million, respectively.
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Despite the changes in MSCI’s Global Standard Index, there have been no significant fluctuations in the companies’ share prices.
At 2 pm, shares of Supreme Industries’ surged by 7.5%, reaching ₹4,140 on the NSE. REC’s stock experienced a 3.86% leap, trading at ₹224.95. Ashok Leyland observed a modest gain of 0.35%, with shares trading at ₹186.75.
HDFC Asset Management Company’s shares advanced by 0.32%, while Cummins India saw a decline of 0.40%, Power Finance Corporation dipped by 0.60%, IDFC First Bank recorded a 0.69% increase, and Astral Ltd registered a minor decrease of 0.17%.