Business Today

MSCI rejig: Tata Motors DVR, Cadilla surge up to 6%; Oil India, DLF fall up to 7%

Stocks of Oil India and DLF slumped up to 7 per cent in trade on Friday after MSCI excluded the two stocks from the Global Standard index in its semi-annual reshuffle of indices.

BT Online   New Delhi     Last Updated: November 13, 2015  | 16:32 IST
MSCI rejig: Tata Motors DVR, Cadilla surge up to 6%; Oil India, DLF fall up to 7%
Stocks of Ashok Leyland, Cadila Healthcare, Maruti Suzuki and Tata Motors DVR were included in the Global Standard index. Photo: Reuters

Stocks of Oil India and DLF slumped up to 7 per cent in trade on Friday after MSCI, an international provider of research-based indexes and
analytics, excluded the two stocks from the Global Standard index in its semi-annual reshuffle of indices.

Shares of Oil India ended the day 5.16 per cent down after hitting an intraday low of Rs 362.25, down 7.75 per cent, while shares of DLF closed 1.56 per cent down after slumping as much as 2.85 per cent to Rs 108.80, on the Bombay Stock Exchange (BSE).

Stocks of Ashok Leyland, Cadila Healthcare, Maruti Suzuki and Tata Motors DVR were included in the Global Standard index.

Reacting to their inclusion, shares of Tata Motors DVR and Cadilla Healthcare rose 5.85 per cent to Rs 294 and 2.78 per cent to Rs 428.90, respectively, in intraday trade on BSE.

However, shares of Maruti Suzuki and Ashok Leyland fell as much as 2.55 per cent to Rs 4625.20 and 1 per cent to Rs 89.60, on BSE.

Meanwhile, a total of 24 stocks have been included and 12 stocks dropped from the MSCI India Smallcap index.

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