MSCI includes India's Coromandel, Nykaa to key index in May rejig
May 14 (Reuters) - MSCI included two Indian companies fertilisers maker Coromandel International (CORF.NS), opens new tab and beauty products retailer Nykaa (FSNE.NS), opens new tab to its Global Standard index earlier on Wednesday, as part of its May 2025 index rejig.
No Indian stock has been deleted from the key global index. The changes will come into effect as of the markets close on May 30.
The inclusion could bring passive inflows worth $216 million-$227 million into Coromandel and $172 million - $181 million into Nykaa, according to IIFL Alternate Research and JM Financial estimates.
MSCI also added Coromandel and airport operator GMR Airports (GMRI.NS), opens new tab into its India domestic index, while removing auto parts maker Sona BLW Precision Forgings (SONB.NS), opens new tab.
While the flagship Global Standard index and Indian domestic indexes only saw minor tweaks, MSCI added 11 new stocks to its global small-cap index and deleted 21 stocks.
The more specific MSCI India domestic small-cap index saw the addition of 12 stocks and removal of 21 stocks.
Besides the additions, drug maker Cipla (CIPL.NS), opens new tab, telecom infrastructure provider Indus Towers (INUS.NS), opens new tab and textiles and chemicals maker Grasim Industries (GRAS.NS), opens new tab are likely to see passive inflows of $33 million-$45 million, $36 million-$40 million and about $17 million due to the increase in their weights in the Global Standard index.
Astral could see outflows worth $15 million-$17 million due to weight reduction, according to IIFL Alternate Research and JM Financial estimates.
India's weight in the MSCI Global Standard index rose marginally to 19.4%, according to the IIFL Alternate Research. India had a weightage of about 19% in the index as of the previous revision in February.
In its last rejig in February, MSCI added carmaker Hyundai Motor (HYUN.NS), opens new tab and removed Adani Green Energy (ADNA.NS), opens new tab from its global standard index.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Rhyl Journal
15 minutes ago
- Rhyl Journal
Boeing shares tumble after Air India plane crash
The US-based airplane manufacturer, which has been blighted by safety issues in recent years, saw shares drop as much as 8%. A Boeing 787 Dreamliner aircraft bound for Gatwick airport, carrying 242 people including 53 British nationals, appeared to explode after crashing shortly after taking off from Ahmedabad Airport. Airline Air India said 169 passengers are Indian nationals, 53 are British, one is Canadian and seven are Portuguese. Faiz Ahmed Kidwai, director general of India's directorate of civil aviation, told the Associated Press the crash happened in the Meghani Nagar area at 1.38pm local time (9.08am BST). A Boeing spokesman said: 'We are aware of initial reports and are working to gather more information.' The first flight of the Boeing 787 Dreamliner aircraft involved in the crash was in December 2013. Air India confirms that flight AI171, from Ahmedabad to London Gatwick, was involved in an accident today after take-off. The flight, which departed from Ahmedabad at 1338 hrs, was carrying 242 passengers and crew members on board the Boeing 787-8 aircraft. Of these, 169 are… — Air India (@airindia) June 12, 2025 It is the first crash involving a Boeing 787 aircraft, according to the Aviation Safety Network database. However, the fleet was reportedly grounded in 2013 after fires related to lithium-ion batteries in its electrical power system. It is understood that airline operators including British Airways, United Airways and Qatar Airways use the model. Boeing planes have been involved in other incidents in recent years such as the Lion Air crash in 2018 involving a Boeing 737 Max which killed 189 people. In 2019, Ethiopian Airlines Flight 302, involving another 737 Max aircraft, crashed killing 157 people on board. The entire Boeing 737 Max fleet was grounded after the incidents.
Reuters
an hour ago
- Reuters
Air India's long history as it faces crisis of Ahmedabad crash
June 12 (Reuters) - A Boeing 787 Dreamliner operated by Air India, one of its home country's largest airlines, crashed moments after take-off on Thursday on a flight from Ahmedabad to London Gatwick, killing at least 30. Here are the facts about the airline's long history: Air India was started by entrepreneur JRD Tata in 1932, before being taken over by the Indian government in 1953. Under the government, years of mismanagement and rising competition led to ballooning debts at the carrier. Tata Group took over the airline's operations in a $2.2 billion deal in 2022, and has since tried to revive its fortunes. Air India currently flies to 43 domestic and 41 international destinations. As of May, it operates 191 aircraft, a mix of narrow- and wide-body models from both Airbus and Boeing. It is currently the country's only airline to fly non-stop to long-haul destinations, from Australia to Europe and North America. Its low-cost unit, Air India Express, flies to 55 destinations in India and abroad, with a focus on the Middle East. Tata Group merged Air India and Air India Express with its existing carriers Vistara and AIX Connect in November to form India's largest airline group after IndiGo ( opens new tab. Air India has merged with Vistara, while Air India Express combined with AIX Connect. The airlines command a roughly 30% share of India's domestic aviation market. Singapore Airlines, which started full-service carrier Vistara with the Tatas, is a 25% owner of the combined Air India Group. Air India placed what was then the world's largest aircraft order for a combined 470 jets from Airbus and Boeing in February 2023. This was topped up with an order for another 100 jets from Airbus in December last year. Air India is in talks with Airbus and Boeing for a major new aircraft deal including some 200 extra single-aisle planes, Reuters reported earlier in June. The company in mid-2023 unveiled a new logo, branding and plane livery. It also embarked on a $400 million refurbishment and retrofitting plan of its aircraft interiors, which has been dogged by supply chain delays. The carrier has retrofitted most of its single aisle Airbus A320 neo aircraft and is working on updating its long-haul Boeing 777 and 787 jets.
Leader Live
an hour ago
- Leader Live
Boeing shares tumble after Air India plane crash
The US-based airplane manufacturer, which has been blighted by safety issues in recent years, saw shares drop as much as 8%. A Boeing 787 Dreamliner aircraft bound for Gatwick airport, carrying 242 people including 53 British nationals, appeared to explode after crashing shortly after taking off from Ahmedabad Airport. Airline Air India said 169 passengers are Indian nationals, 53 are British, one is Canadian and seven are Portuguese. Faiz Ahmed Kidwai, director general of India's directorate of civil aviation, told the Associated Press the crash happened in the Meghani Nagar area at 1.38pm local time (9.08am BST). A Boeing spokesman said: 'We are aware of initial reports and are working to gather more information.' The first flight of the Boeing 787 Dreamliner aircraft involved in the crash was in December 2013. Air India confirms that flight AI171, from Ahmedabad to London Gatwick, was involved in an accident today after take-off. The flight, which departed from Ahmedabad at 1338 hrs, was carrying 242 passengers and crew members on board the Boeing 787-8 aircraft. Of these, 169 are… — Air India (@airindia) June 12, 2025 It is the first crash involving a Boeing 787 aircraft, according to the Aviation Safety Network database. However, the fleet was reportedly grounded in 2013 after fires related to lithium-ion batteries in its electrical power system. It is understood that airline operators including British Airways, United Airways and Qatar Airways use the model. Boeing planes have been involved in other incidents in recent years such as the Lion Air crash in 2018 involving a Boeing 737 Max which killed 189 people. In 2019, Ethiopian Airlines Flight 302, involving another 737 Max aircraft, crashed killing 157 people on board. The entire Boeing 737 Max fleet was grounded after the incidents.
