India's Bank of Baroda, CG Power rise on addition into key MSCI indexes

CG Power and Industrial Solutions

10/02/2023 05:20

** Shares of Bank of Baroda  BOB.NS  and CG Power  CGPO.NS 
rise as much as 2.6% and 4.35%, respectively
    ** The rise in comes after BOB was added into the MSCI
Global Standard Index
    ** CGPO and Shriram Finance  SHMF.NS  have been added into
the MSCI India index
    ** The changes will take place as of the close of Feb. 28,
2023, MSCI said in a statement
    ** Many institutions, funds consider MSCI as their
benchmark, says Astha Jain of Hem Securities and adds entry or
exit in the index could likely impact flows
    ** While BOB and CGPO have risen after their entry into key
MSCI indexes, SHMF bucked the trend falling over 3% during the
session
($1 = 82.6350 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))