Indus Towers, Sundaram Finance and Mankind Pharma are among stocks that may get added to the MSCI Global Standard index during the next rebalancing exercise in May.

Meanwhile, PayTM could get deleted from the index if the stock languishes around the current levels over the next few weeks, according to a report by Nuvama Alternative and Quantitative Research.

According to the report, the cut off date for calculating addition and removal of stocks from the widely-tracked MSCI indices is April 17, while the changes will be announced by the global index provider on May 13.

Nuvama has identified about a dozen “high conviction” domestic stocks that could get added to the index.

Another six stocks that include Alkem Lab, Thermax and Prestige Estates, could also be added provided their share prices rally over the next few weeks.

The addition of some stocks such as Indus Tower and Mankind Pharma, is on the back of increase in public float following share sales by strategic investors.

At the end of March, India’s weight in the MSCI Emerging Market Index rose to 17.7 per cent from just 8 per cent during early 2020.

Nuvama expects India’s weighting to cross the 20 per cent mark during the second half of calendar 2024.

First Published: Apr 01 2024 | 9:55 PM IST

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