14-05-2025
MSCI includes India's Coromandel, Nykaa to key index in May rejig
May 14 (Reuters) - MSCI included two Indian companies fertilisers maker Coromandel International ( opens new tab and beauty products retailer Nykaa ( 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 ( opens new tab into its India domestic index, while removing auto parts maker Sona BLW Precision Forgings ( 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 ( opens new tab, telecom infrastructure provider Indus Towers ( opens new tab and textiles and chemicals maker Grasim Industries ( 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 ( opens new tab and removed Adani Green Energy ( opens new tab from its global standard index.
