This Article is From Nov 30, 2016

MSCI India Small Cap Index Rejig Brings Newly Listed Stocks Into Focus

MSCI India Small Cap Index Rejig Brings Newly Listed Stocks Into Focus
Shares of Advanced Enzyme Tech, Dilip Buildcon, Equitas Holdings, Infibeam Incorporation, Mahanagar Gas, RBL Bank, Parag Milk Foods and Ujjivan Financial Services - which were earlier listed this year - were in focus today. 

These stocks have made it to the globally tracked MSCI India Domestic Small Cap Index, effective from today. 

Among other companies, Apar Industries, Avanti Feed, GHCL, Godfrey Phillips India, Gujarat Narmada Fertilisers, Jindal Stainless Hisar, Kesoram Industries, KNR Constructions, Kushal Tradelink, Lakshmi Vilas Bank, Navin Fluorine, Nilkamal,  Ramco Industries, Reliance Communications, Sequent Scientific, Sharda Cropchem, Shilpi Cable Technologies, Somany Ceramics, Sudarshan Chemicals, Supreme Petrochem, Tamil Nadu Newsprint and Tata Coffee have also been included in the MSCI India Domestic Small Cap Index.

On the other hand, Asahi India Glass, Berger Paints, Emami, IDFC Bank, Kansai Nerolac Paints, M&M Financial Services, MRF, Petronet LNG, Piramal Enterprises, Polaris Consulting, Punjab National Bank, Ricoh India, Sequent Scientific, Sun TV Network, UPL and Welspun Corp have come off the index.

Analysts say inclusion in the MSCI India Domestic Small Cap Index may trigger further buying in these stocks as offshore exchange traded funds (ETFs) track this index.

Meanwhile, in another rejig, MSCI has added Havells India, IDFC Bank, M&M Financial Services, Petronet LNG, Piramal Enterprises and UPL in MSCI India Domestic Index.