MSCI announced it's Semi-Annual Index Review (SAIR) rejig and 7 Indian stocks have found a place in the standard index while 2 have been booted out.
Included in the MSCI Standard Index: Zomato, Tata Power, Godrej Properties, IRCTC, Mindtree, Mphases, SRF
Excluded from the MSCI Standard Index: IPCA Labs, REC
As per experts the rejig that would lead to increased buying of these stocks by FIIs would amount to an inflow of nearly $1 billion into the Indian markets.
Also, the MSCI potential high conviction inclusion names stand a chance to move to the large-cap category from the current mid-cap classification by the Association of Mutual Funds in India (Amfi). The mutual fund industry body will release the reclassified list of stocks in the first week of January.