1 .Adani Power, Jindal Steel _ Power to be added to MSCI India index, HDFC AM

Morgan Stanley Capital International (MSCI) has counted Adani Power, Jindal Steel & Power, AU Small Finance Bank and Tata Elxsi in the MSCI India Index after the semi-annual review 2022.Furthermore, HDFC Asset Management Company will be dismissed from the index.

This move is mainly in line with expectations stapled by analysts earlier. As per estimates by Edelweiss Alternative Research, the addition of these stocks to MSCI indices may result in inflows worth $566 million. MSCI reviews its domestic and global indices semi-annually based on several factors.

According to Edelweiss Alternative Research, Adani Power has added to the index that resulting in inflows worth $150 million and Jindal Steel & Power’s addition may result in inflows worth $150 million.

Similarly, Tata Elxsi stock addition results in worth $188 million and AU Small Finance Bank may result in inflows worth $78 million, said Edelweiss. Removal of HDFC AMC from the index may result in $78 million in outflows, Edelweiss reported.

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