The August 2024 rebalancing was revealed by MSCI, which included the addition of 27 new stocks to the Smallcap Index. Bandhan Bank, Go Digit General Insurance, Protean eGov Technologies, Paras Defence and Space, and RVNL are notable additions.
Approximately USD 11 million will likely be invested in Go Digit, while passive fund inflows of USD 26 million are anticipated in Bandhan Bank, according to estimates from the brokerage Nuvama Alternative & Quantitative Research.
The brokerage firm Nuvama Alternative & Quantitative Research has estimated that Vodafone Idea may receive USD 278 million in funding, while RVNL is expected to receive USD 219 million in passive fund inflows.
Other Inflows
The brokerage Nuvama has also calculated the expected inflows from this inclusion for other recently included stocks. Passive inflows totalling USD 6 million are anticipated for Protean eGov Technologies, while USD 3 million are anticipated for Paras Defence and Space. USD 3 million in new funding could come to Aditya Vision.
New additions To MSCI index
Aurobindo Solution, Bharat Bijlee, Bajaj Hindustan Sugar, Sharda Motor Industries, Garware Hitech Films, Max Estates, Welspun Enterprises, Heritage Foods, Keystone Realtors, GMR Power and Urban Infra, Inox Wind Energy, Shriram Piston & Rings, TVS Supply Chain Solutions, Piccadily Agro Industries, Senco Gold, India Shelter Finance, Inox Green Energy Services, Gulf Oil Lubricant India, Moschip Technologies, and Magellanic Cloud are among the other new additions.
Exclusion from the Index
In contrast, the following companies will not be included in the index: Dixon Technologies, Cochin Shipyard, IREDA, HUDCO, Network 18 Media and Investment, and Jaiprakash Associates. All modifications will take effect at the end of August 30, 2024, according to a press release from Nuvama.Along with the updated exclusions and inclusions.
Weightage increased in stock
The weights of 27 current stocks have increased by MSCI, including Star Health, Aptus Value Housing Finance, Aptus Value Infrastructure, Hindustan Copper, Delhivery, Inox Wind, Jupiter Wagons, Indiamart Intermesh, Happiest Minds, and SBFC Finance.
MSCI Global standard Index
Separately, Bandhan Bank will not be included in MSCI's Global Standard Index, but Rail Vikas Nigam (RVNL) and Vodafone Idea have been added. Dixon Technologies India, Oil India, Zydus Lifesciences, Prestige Estates Projects, and Oracle Financial Services Software (OFSS) are among the other recent additions to the Global Standard Index.
