MSCI to add Swiggy and Vishal Mega Mart among others to flagship index
Hitachi Energy India (HITN.NS), opens new tab and Waaree Energies (WAAN.NS), opens new tab will be the other two additions to the index, while Sona BLW (SONB.NS), opens new tab and Thermax (THMX.NS), opens new tab will be dropped, the index provider said in a statement dated August 7.
The changes will take place as of the close of August 26, MSCI said.
Swiggy is expected to get inflows worth up to $289 million, while Vishal Mega Mart can get $258 million in passive fund flows as a result of the addition, IIFL Alternate Desk said. They added that Hitachi Energy is likely to draw $230 million of inflows, and Waaree Energies $233 million.
MSCI's indexes are used by investors globally, with about $16.9 trillion of assets under management benchmarked to their equity indexes.
The index provider also announced the addition of 15 Indian stocks and removal of six from its Global Smallcap index.
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