MSCI November rejig: Coforge, LIC, Adani Green and Meesho stocks likely to be added
The MSCI November index review is scheduled for November 12; the revised index constituents will become effective from November 30
The upcoming MSCI November index review has investors focusing on several stocks that are expected to be added to the index, potentially triggering significant passive fund flows. These companies include Coforge, LIC, Adani Green Energy, and Meesho. According to Nuvama Alternative & Quantitative Research, Coforge is anticipated to attract the largest inflow, estimated at $653 million, which is equivalent to 11 times its average daily trading volume.
LIC is predicted to receive $498 million, Adani Green Energy $300 million, and Meesho $254 million. In contrast, ICICI Life and PI Industries are likely to be removed from the index, with estimated outflows of $145 million and $118 million, respectively. The revised index constituents are set to take effect from November 30, and the proposed changes have the potential to influence foreign portfolio investor flows.
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