MSCI Rejig: There is an atmosphere of decline in the stock market right now. Today on January 13, the market did make some comeback, but how long this rally will last remains to be seen. Meanwhile, a report has come from JM Financial, a brokerage firm, according to which there may be significant movement in at least 8 stocks at the end of February or beginning of March. These include many names like Coforge, Fortis Healthcare, Paytm and Coromandel International.
Morgan Stanley Capital International (MSCI) is going to make changes in its India Standard Index in the month of February. JM Financial says that during this change, at least 8 new stocks have been included in the index. Many foreign mutual funds invest money in the Indian stock market on the basis of this MSCI index. In such a situation, everyone’s eyes remain focused on any change in this index.
MSCI will announce changes in its India Standards Index on 11 February and whatever changes will be made will be implemented from 3 March. JM Financial said Coforge, Fortis Healthcare, Paytm and Coromandel International are most likely to be included in the index. Apart from this, Federal Bank, Blue Star, GE Vernova TD India and Uno Minda are also likely to be included in this index, but these chances are slightly less.
The brokerage firm said that based on the current share price, a total investment of about $ 1.3 billion (about Rs 11,250 crore) in these eight stocks could come from foreign passive mutual funds. The maximum investment of about Rs 2,500 crore is to come in Coforge.
Apart from this, investment of about Rs 1,500 crore in Fortis Healthcare, about Rs 1,460 crore in Paytm, Rs 1,350 crore in Coromandel International and about Rs 1,185 crore in Federal Bank shares is expected. Whereas, the least investment of Rs 900-900 crore is expected in the shares of GE Vernova TD India and Uno Minda.
Apart from this, there are many such shares, whose weightage will increase in MSCI India Standard Index after this change. At the top is the name of IndusInd Bank, whose weightage is expected to be almost double. Due to this, an investment of around Rs 1,237 crore is expected in this share.
This is the matter of MSCI index. Now coming to Nifty-50. JM Financial said in another report that changes may be seen in Nifty also next month. Due to this change, 2 shares – Zomato and Jio Financial Services can be included in Nifty. In their place, Britannia Industries and Bharat Petroleum may be out of the index. NSE will announce these changes in February and they will come into effect from March 2025.
The brokerage said that if this happens, then investment of Rs 5,360 crore can come from passive mutual funds in Zomato shares. At the same time, investment of around Rs 3,000 crore can come in the shares of Jio Financial Services.
Also read- Stock market made a strong comeback, Sensex jumped 170 points, investors earned ₹ 6.57 lakh crore.
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