Msci rejig: A big news has come out about the 11 smallcap companies of the Indian stock market. Big news is because the shares of these companies can bring a foreign investment of $ 89 million, or about Rs 760 crore in the coming days. The entire case is related to the India Smallcap Index of Morgan Stanley Capital International (MSCI). If you do not know about MSCI, then let us know that MSCI is a global index provider, which provides index from different markets. All foreign investors invest money in the Indian stock market based on this index. In such a situation, whenever a stock is included in this index, foreign investment coming in a passive way increases. However, there is some opposite many times and after MSCI is out of the index, foreign investment also comes out of it.
MSCI adjusts its index twice every year. This time in the adjustment of May, MSCI has made a big change in its India Smallcap index. Under this change, MSCI has included a total of 11 smallcap stocks in this index. On the other hand, it has excluded 22 stocks out of its index.
Among the 11 Smallcap stocks MSCI have included in its India Smallcap index, Outham Investments, Dr. Agwals Health Care, Ixigo, AcMe Solar Holdings, AWL Agri Business, Saizanism India, Hexavier Technologies, Sai Life Sciences, Sai Life Sciences, International Jemologist God Tata Technologies include.
Brokerage firm IIFL Securities has taken out a detailed report regarding which of these stocks can come in. IIFL Securities reported that the most foreign investment is estimated to come in the shares of Tata Technologies. This stock may have a foreign investment of about 18 million dollars, or about 153 crore rupees. At the same time, Rs 136 crore is estimated to be Rs 136 crore in shares of Hexavier Technologies and Rs 28 crore in AWL Agri Business shares. Foreign investment of about 94 crore can be included in the shares of Autham Investments.
At the same time, foreign investment of Rs 68 crore and Rs 59 crore in the shares of the International Gemological Institute is estimated to be Rs 68 crore in Shiyar of Skin Life Sciences. Brokerage said that apart from this, Dr. Agrawal’s Health Care, AcMe Solar Holding, Saigibility India and Godrej Agroet are estimated to be Rs 42-42 crore. Whereas Xigo shares can cost Rs 34 crore.
22 smallcap shared out of index
Meanwhile, there are also 22 smallcap stocks which have now been excluded from this index. Among the shares that have been excluded, Heidel Gurgasement India, Godrej Industries, Teamlies Services, Gateway Dryparks, Greenpanel Industries, Gujarat Alkalies and Chemicals, Nosil, Prince Pipes & Fitings, Orchid Pharma, Shyam Metallix and Energy, Coromandal Digital Limited, Coromandal Digital Limited Companies, Hemispare Properties, Electronics Mart India, Share India Securities, Patel Engineering, Moschip Technologies, Allcargo Logistics, E2E Netwers and Aarti Drugs.
Brokerage said that all these stocks may have the highest loss of Coromandal International, with shares of about $ 51 million, or about Rs 435 crore, can go out. How much foreign investment is expected to go from the remaining shares, you can see it in the table below-
However, it is a matter of relief for the Coromandel that MSCI has now included it in its Global Standard Index. Apart from this, shares of Nayaka’s parent company FSN e-commerce ventures have also been included in this index. Brokerage firm Nuwama said that both these shares are estimated to have up to Rs 3,400 crore in both these shares. MSCI said that all the changes he made in all its indexes will be implemented after the end of May 30.
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