MSCI India Index To Add 13 Companies, Including Canara Bank And JSW Energy; 3 To Be Removed

As many as 13 companies, including Canara Bank, JSW Energy, NHPC and Jindal Stainless, will be included to the MSCI India index effective close of trade on May 31, as per the May 2024 index review by MSCI.

Companies added to the MSCI India index

The companies that are added to the MSCI India index are Bosch, Canara Bank, Indus Towers, Jindal Stainless, JSW Energy, Mankind Pharma, NHPC, PB Fintech, Phoenix Mills, Solar Industries India, Sundaram Finance, Thermax and Torrent Power, according to an announcement by index compiler MSCI.

Companied removed

Three companies - Berger Paints, Indraprastha Gas and One97 Communications - will move out of the index, it announced.

"The changes in constituents for the MSCI (Morgan Stanley Capital International) Global Standard Indexes will take place as of the close of May 31, 2024," it added.

Shares performance

Some of the companies that were added to the index were trading with gains on the BSE.

Shares of Thermax zoomed 8 per cent, Canara Bank climbed over 4 per cent, PB Fintech rallied more than 4 per cent, Sundaram Finance advanced over 2 per cent, Indus Towers traded nearly 1 per cent higher and Torrent Power quoted 1 per cent up.

However, Berger Paints, Indraprastha Gas and One97 Communications were trading lower.

MSCI Global Standard Index is widely used by global fund houses for benchmarking global equities portfolios.