MSCI adds four firms to India index, removes Oil India, DLF
PTI November 13, 2015
Four companies - Ashok Leyland, Cadila Healthcare, Maruti Suzuki India and Tata Motors - will be added to the prestigious MSCI India index with effect from November 30, while Oil India and DLF are being removed.
Reacting to this, Oil India's scrip tumbled 5.16 per cent to settle at Rs 372.45 on BSE. Similarly, DLF lost 1.56 per cent to end at Rs 110.25.
The changes in constituents for the MSCI global standard index will take place on November 30, 2015, MSCI said on Thursday.
Ashok Leyland, Cadila Healthcare, Maruti Suzuki India and Tata Motors have been added to the index. Shares of Ashok Leyland were down 0.22 per cent, Cadila lost 1.09 per cent, Maruti dipped by 2.59 per cent. Similarly, Tata Motors was down 2.16 per cent to Rs 402.85.
MSCI announced the changes as part of its semi-annual index review on Thursday.
Shares of Ashok Leyland, Cadila Healthcare, Maruti, Oil India and DLF remained in action as MSCI conducted its semi- annual reshuffle of indices including and excluding stocks from its indices, said Hiren Dhakan, Associate Fund manager, Bonanza Portfolio Ltd.
A total of 24 stocks have been included and 12 stocks dropped from the MSCI India smallcap index. The additions in the small cap indexes include Dishman Pharma, Escorts, Ipca Lab and Sun TV, while those who are being removed are Aban Offshore, Amtek Auto, among others. Global indexing and analytics giant MSCI has indices for key markets.