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From Thursday, Indian Oil Corporation and Rural Electrification Corporation will be part of the MSCI Global Standard Index while Divi’s Laboratories will be out.
Besides IOC, Novolipetsk Steel (Russia) and Bancolombia (Colombia), will also enter the MSCI Emerging Markets Index.
The MSCI Emerging Markets Index consists of 23 countries representing 10 per cent of world market capitalisation.
Earlier moveMSCI, which reconstituted its indices recently in the semi-annual revision exercise, added 15 companies to its MSCI Global Small Cap Index. These are Avanti Feeds, Birla Corp, Bombay Stock Exchange, Divi’s Laboratories, Dr Lal PathLabs, Endurance Technologies, Future Lifestyle, Indiabulls Ventures, L&T Info, Laurus Labs, National Aluminium, Navneet Education and Prestige Estates Project.
The global index major has also removed 11 stocks from the Small Cap Index. These are Astrazeneca Pharma India, CCL Products India, Coffee Day Enterprises, Cyient, Fortis Helathcare, Indoco Remedies, Ingersoll-Rand, Kitex Garments, Sun TV Network, Texmaco Rail & Engineering and Unitech.
MSCI’s research-based indices and analytics have helped the world’s leading investors build and manage better portfolios over the last 40 years.
Clients rely on its offerings for deeper insights into the drivers of performance and risk in their portfolios, broad asset class coverage and innovative research.
MSCI serves 97 of the top 100 largest money managers, according to the most recent P&I ranking.
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