Many Companies Added to MSCI Emerging Markets Small Cap Index

NMDC, GMR Airports, Union Bank, BHEL and Punjab National Bank were added to the MSCI Global Standard Index in a rejig that will see inflows of nearly $1 billion from passive FII funds.

The changes will come into effect from market close on February 29.

MSCI Domestic Indexes saw Tata Motors, Macrotech Developers as additions in large-cap, Punjab National Bank and Canara Bank mid-cap. BHEL, Persistent Systems, MRF, Suzlon Energy and Cummins India Kirloskar upgraded from small-cap to mid-cap, and Embassy Office Park REIT added to mid-cap.

MSCI Emerging Markets Small Cap Index saw Indian Renewable Energy Development Agency added to index, while GMR Airports Infra has been moved to mid-cap from small-cap. Prestige Estates Project and Rail Vikas Nigam were deletions. In MSCI India Domestic Large Cap Index, Trent, Tata Consumer Products, Power Finance, REC, Tata Power  Macrotech Developers and Tata Motors were added to large-cap index.

In MSCI India Domestic Small Cap Index, IREDA, Vedant Fashions, Honasa Consumer, Cello World, Swan Energy, Paisalo Digital, Rattanindia Power, ITD Cementation India, Jaiprakash Associates, KPI Green Energy were added.

Persistent Systems, Suzlon Energy, Cummins India Kirloskar, MRF, BHEL, Oberoi Realty, Solar Industries India, Prestige Estates Project, Oracle Finanacial Services Software, L&T Technology Services were deleted.