World · India Bureau
MSCI adds LIC, Adani Green, Meesho in November index rejig
Four Indian stocks will join MSCI indices in the November rebalancing, with insurance major LIC and renewable energy firm Adani Green among the additions. PI Industries will exit the indices in the reshuffle.
LSN India ·
India's stock market will see significant shifts in November as MSCI executes its quarterly index rebalancing, welcoming four new constituents while removing PI Industries from its benchmarks.
Life Insurance Corporation of India (LIC), Adani Green Energy, fintech platform Meesho, and one additional company will gain inclusion in the index family. The reshuffle reflects evolving market dynamics and the growing prominence of India's digital and renewable energy sectors within global investment portfolios.
According to research from Nuvama Alternative & Quantitative Research, the rebalancing will trigger substantial capital flows into the new entrants. IT services firm Coforge is projected to attract the highest inflows at approximately $630 million, while LIC is expected to see inflows worth $468 million. The additions underscore the increasing participation of Indian companies across diverse sectors in global indices.
The November rejig marks another milestone in MSCI's recognition of India's expanding equity market and the maturation of its corporate ecosystem. The changes will be effective from November 29, providing market participants with ample time to adjust their portfolios ahead of the transition.