HDFC Bank’s Potential Weight Increase in MSCI’s November Rebalancing Could Attract $1.88 Billion in Inflows

resr 5paisa Research Team

Last Updated: 6th November 2024 - 12:48 pm

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The latest MSCI index reshuffle is set to occur on November 7, with much attention on the potential increase in HDFC Bank’s weight, which could attract inflows of about $1.88 billion.

Apart from HDFC Bank, companies such as Adani Energy Solutions, Kalyan Jewellers, BSE, Alkem Laboratories, and Oberoi Realty are likely contenders for inclusion in the MSCI Global Standard Index, as noted by Nuvama Alternative & Quantitative Research. Voltas also stands a chance of being added, though its inclusion remains borderline. The official announcement is scheduled for November 7 at approximately 2:30 am, with adjustments slated for November 25.

Nuvama's projections indicate that Adani Energy Solutions could see passive inflows of $306 million, with BSE potentially attracting $257 million, followed by Oberoi Realty with $218 million, Alkem at $211 million, and Kalyan Jewellers with $210 million. If Voltas is included, it too could draw $306 million in inflows.

In the MSCI Smallcap index, anticipated new additions include Brainbees Solutions, Ola Electric, Jyoti CNC Automation, Eureka Forbes, Aadhar Housing, PC Jewellers, JSW Holdings, and Allied Blenders, potentially bringing in up to $106 million in inflows, according to Nuvama’s estimates.

Also check HDFC Shares- Group Stocks

On the other hand, Nuvama has flagged several potential exclusions from the index, including Fusion Finance, TCI Express, Sanofi Consumer, Hitachi Energy, and Hinduja Global.

The report also identified 19 companies that may be added to the MSCI Smallcap Index in the upcoming reshuffle. Among the potential inclusions are Ola Electric Mobility Ltd., JSW Holdings, Brainbees Solutions Ltd., Jyoti CNC Automation Ltd., Eureka Forbes Ltd., Aadhar Housing Finance Ltd., PC Jeweller Ltd., and Allied Blenders and Distillers Ltd. Collectively, these additions could attract inflows nearing $100 million, according to projections.

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