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Vodafone Idea, Oil India, and 5 others to join MSCI India Index

2024-08-14

According to the latest index review by MSCI, seven firms, including Vodafone Idea and Oil India, are set to be added to the MSCI India Index effective August 30, 2024. The additions include Dixon Technologies (India), Oil India, Oracle Financial Services Software, Prestige Estates Projects, Rail Vikas Nigam, Vodafone Idea, and Zydus Lifesciences. This information was announced by MSCI, the index compiler.

The changes in the constituents for the MSCI Global Standard Indexes will be implemented as of the close of August 30, 2024, as stated in the announcement.

Bandhan Bank will be removed from the MSCI India Index, as announced.

Following the announcement, shares of Rail Vikas Nigam increased by 4.61 per cent, Dixon Technologies rose by 3.29 per cent, Oil India went up by 3.21 per cent, Oracle Financial Services Software gained 1.95 per cent, and Prestige Estates climbed 1.46 per cent on the BSE. Conversely, Vodafone Idea and Zydus Lifesciences were trading lower.

MSCI, a leading provider of critical decision support tools and services for the global investment community, has also updated the MSCI Global Smallcap Indices list. This update includes 27 new firms in the MSCI India Index, such as Bajaj Hindusthan Sugar, Bandhan Bank, Gulf Oil Lubricants India, Inox Wind Energy, and TVS Supply Chain Solutions.

Meanwhile, Cochin Shipyard, Dixon Technologies, Jaiprakash Associates, Network18 Media, and two other firms will be removed from the MSCI India Index in the Smallcap Indices list.