India's weightage in key MSCI index to rise above 20% after index rejig, says Nuvama

Prestige Estates Projects

12/08/2024 10:56

** India's weightage in MSCI emerging markets index will
rise above 20% from 19.2% currently, following the index rejig
due later today, says Nuvama
    ** Adds, Vodafone Idea  VODA.NS , Prestige Estates
 PREG.NS , Oberoi Realty  OEBO.NS , Schaeffler India  SCHE.NS ,
Dixon Technologies  DIXO.NS  and Uno Minda  UNOI.NS  will be
included into MSCI Emerging Markets index   
    ** Also sees Rail Vikas Nigam  RAIV.NS , Zydus Life
 ZYDU.NS  among likely candidates be included
    ** Abhilash Pagaria, head of Nuvama Alternative &
Quantitative Research, expects the stocks to see inflows between
$153 million and $254 million following the inclusion
    ** Says top private lender HDFC Bank  HDBK.NS  could see its
weightage increase to 7.2%-7.5% from 3.8%, triggering inflows of
$3.2 bln-$34 bln  
    ** Indian equities have been on a solid bull run, and now
HDFC Bank is set to give another boost, adds Pagaria
    ** Nuvama did not identify candidates that could be excluded
from the index 
    
    

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MSCI Emerging Markets index: August rejig    https://reut.rs/3M4WFgF
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 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))