MSCI Inc., a global index provider, announced in its February rejig added Hyundai Motor India to its MSCI Global Standard Indexes. The changes to its index were part of the February 2025 Index Review, as per a statement.
Besides Hyundai India, the other two additions to the index will be Emaar Development, a company based out of the United Arab Emirates while the other is J&T Global Express B of China. The additions are measured on the company’s full market capitalisation.
However, the company has removed Adani Green Energy from the MSCI Global Standard Index as well as the MSCI India Domestic Index.
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IndusInd Bank, Varun Beverages, Zomato, Mankind Pharma, Dixon Technologies (India), Torrent Pharmaceuticals, Adani Enterprises, PB Fintech, and Voltas were among the top ten weight increases in the MSCI Standard Index.
Biggest weight decline in MSCI
On the other hand, Adani Green Energy, HDFC Bank, Reliance Industries, ICICI Bank, Infosys, Bharti Airtel, Mahindra & Mahindra, Tata Consultancy Services, Axis Bank, and Larsen & Toubro were the stocks whose weight declined the highest in the recent rejig.
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In the MSCI India Small Cap Index, the company has added 20 stocks while deleting 17 stocks. The newly listed Afcons Infrastructure, Akums Drugs and Pharma, Allied Blenders, E2E Networks, Jyoti CNC Automation, and others were added to the index. MSCI deleted stocks like Bajaj Hindustan Sugar, Jai Corporation, Spandana Sphoorty Finance, Sula Vineyards, DCB Bank etc.
All changes to the indices will be implemented as of the close of February 28, 2025.
Hyundai Motor was recently listed on the Indian bourses. Shares of Hyundai Motor made a muted debut at Rs 1,934 on NSE,
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