Meanwhile, Sula Vineyards, Advanced Enzyme, Spandana Sphoorty and Balmer Lawrie are some of the major deletions in the index.
MSCI said it will implement changes for Adani Energy starting from the February 2025 review. The same had been postponed earlier.
Meanwhile, largecap stock Hyundai Motor India will now be part of the MSCI Global Standard Index. The stock also sees the highest weight increase among securities listed in India.Adani Green Energy has been excluded from the MSCI Global Standard Indexes in the February 2025 index review.
On November 7, 2024, MSCI had announced a rejig, where five Indian stocks were included in the Global Standard Index and Adani Energy Solutions, which was a prospective inclusion in the round, was not included.
It had attributed the same to concerns around its free float. “As per publicly available disclosures, Adani Energy Solutions has been issued a show cause notice by the Securities and Exchange Board of India (SEBI) for potential wrongful categorisation of shareholding of certain entities,” MSCI wrote in its statement in November.
As a result, it did not implement any increases in the number of shares, Foreign Inclusion Factor (FIF) and Domestic Inclusion Factor (DIF) for Adani Energy Solutions as part of its November review and until announced otherwise.
