RVNL, Oil India, Cochin Shipyard, Dixon Technologies are among the list of 8 stocks that are expected to be included in the MSCI India Standard Index in August. All changes in the MSCI India Standard Index will be made after market close on August 30, 2024.
Which names are included in the list of 8 companies
Based on price prevailing in the last week of July, JM Financial expects 8 stocks to be included in the MSCI India Standard Index. The list of these 8 stocks includes the names of RVNL, Oil India, Cochin Shipyard, Dixon Technologies, Vodafone Idea, KPIT Technologies, Zydus Lifesciences, Oracle Financial Services Software (OFSS).
Passive inflow of $1.239 billion expected
The brokerage believes that all these 8 stocks are expected to receive passive inflows of $1.239 billion. Dixon Technologies stocks are expected to receive the highest passive inflow of $192 million. This is followed by RVNL stocks with $174 million, Vodafone Idea stocks with $165 million, Zydus Lifesciences with $146 million. Apart from these, Oil India and OFSS are both expected to receive passive inflows of $144 million.
The brokerage expects KPIT Technologies to attract $142 million and Cochin Shipyard shares to attract $132 million.
Investment in HDFC Bank shares may double
Meanwhile, the current investment in HDFC Bank shares in the MSCI Global Standard Index is expected to be almost doubled. According to Nuvama Alternative and Quantitative Research, HDFC Bank’s investment in the MSCI index will increase from the current 3.8% to between 7.2% and 7.5%, potentially raising an investment of about $3.2 billion. Market experts say that inclusion in the MSCI India Standard Index will increase foreign investment in these shares, which may lead to a jump in their prices.
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