Suzlon Energy witnessed a surge of over 4% in its share price, and Tata Motors DVR, IndusInd Bank, and Paytm shares also experienced gains in early trading on Wednesday following their inclusion in the MSCI Global Standard Index.
Suzlon Energy shares marked a substantial increase of 4.81%, reaching a 52-week high of ₹40.50 per share on the BSE.
According to Nuvama Alternative and Quantitative Research, Suzlon Energy’s inclusion in the MSCI Global Standard Index could result in inflows of approximately $264 million.
Over the past year, Suzlon shares have exhibited an impressive rally, with the stock price surging by over 50% in one month, doubling in the last three months, and registering a remarkable year-to-date increase of more than 281%.
Simultaneously, One 97 Communications, the parent company of fintech giant Paytm, observed a nearly 3% gain in its shares. Paytm shares are anticipated to attract inflows of around $163 million due to their inclusion in the MSCI index.
A total of nine stocks were added to the MSCI Global Standard Index, with no exclusions made. Other included stocks, such as Tata Communications, showed a rise of over 3.5%, while Tata Motors DVR, Macrotech Developers, Persistent Systems, and Polycab India shares each experienced gains of over 2%. The changes in constituents for the MSCI Global Standard Indexes are scheduled to take effect as of the close of November 30, 2023.
Furthermore, the MSCI India Smallcap Index will witness the inclusion of 42 stocks, along with the exclusion of 19 stocks from the index.
