Shares of Suzlon Energy Ltd, IndusInd Bank Ltd, Persistent Systems Ltd, One 97 Communications Ltd (Paytm), and Polycab India Ltd will be among nine stocks that may attract up to $355 million in passive inflows, according to MSCI, which announced their inclusion in its Global Standard index.
"India's stock count will rise to 131, and our weights are expected to rise to close to 16.3 percent, up from 15.9 percent now." "India's representation in the EM index will reach an all-time high, nearly doubling its weight over the last three years," Nuvama said.
"The small-cap index will also undergo notable changes, aligning with Nuvama Alternative & Quantitative Research expectations," according to the statement.
IndusInd Bank, one of the nine entrants, is expected to attract $355 million in passive inflows.
According to Nuvama, it will be followed by Suzlon Energy shares, which may fetch $289 million in inflows. Persistent Systems ($255 million) and APL Apollo Tubes ($228 million) are two more equities projected to enjoy inflows of more than $200 million.
According to Nuvama, four other equities that may draw inflows of up to $189 million are Polycab India ($189 million), Tata Motors A shares ($184 million), Macrotech Developers ($167 million), Paytm ($162 million), and Tata Communications ($159 million).