India's Supreme Industries, REC, others climb on MSCI index inclusion

IDFC First Bank

11/08/2023 08:10

** Shares of plastics maker Supreme Industries  SUPI.NS 
surge 16.51% to record high, power finance provider REC
 RECM.NS  climb 6.49% to record high
    ** MSCI includes both companies in its MSCI Global Standard
index, effective Sept 1
    ** Auto firm Ashok Leyland  ASOK.NS , pipe maker Astral
 ASTL.NS , engine maker Cummins India  CUMM.NS , HDFC Asset
Management  HDFA.NS , private lender IDFC First Bank  IDFB.NS 
and power financier Power Finance Corp  PWFC.NS  are the other
firms included
    ** ASOK rose 2.6% to a record high, ASTL, HDFA, IDFB, PWFC,
CUMM up between 1% and 3%
    ** Cement maker ACC  ACC.NS  deleted from MSCI global
standard index; stock down as much as 1.72%
    ** Nuvama expects $150-$205 mln inflows in each of the eight
firms post the inclusion, and $95 mln outflows from ACC

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
MSCI Global Standard revision    https://tmsnrt.rs/3KwsBKA
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))