MSCI Indexes Rejig: Tata Motors Biggest Addition To Emerging Markets; Paytm, IndusInd Bank, Suzlon In List

Morgan Stanley Capital International, or MSCI has rejigged its indexes and added nine stocks from India to its Emerging Markets Index. India along with Hong Kong were the only markets where no stocks were removed in the November rejig. Tata Motors from India is the largest addition to the index.

The new changes will come into effect from November 30, 2023.

In its statement, MSCI said, "The three largest additions to the MSCI Emerging Markets Index measured by full company market capitalization will be Tata Motors A (India), Amman Mineral International Tbk PT (Indonesia) and CGN Power Co A (Hk-C) (China)."

Tata Motors is the conglomerate Tata Group's automobile flagship. The auto giant touched an intraday high of Rs 661.45 apiece on Wednesday, nearing its 52-week high level of Rs 677.90 apiece on BSE. The stock trades in green. It has a market cap of over Rs 2.19 lakh crore.

Apart from this, another Tata stock has also been made to the list of additions. It would be Tata Communications which has a market value of nearly Rs 49,000 crore on BSE.

Furthermore, fintech giant One 97 Communications aka Paytm was also on the list, while IndusInd Bank was not just the only private bank but also the only Indian bank to make the list.

Other stocks added are -- APL Apollo Tubes, Macrotech Developers, Persistent Systems, Polycab India, and Suzlon Energy.

Suzlon Energy which has emerged as a multibagger in 2023 so far, touched a new 52-week high of Rs 40.50 apiece with market value nearing Rs 55,00 crore.

MSCI is a leading provider of critical decision support
tools and services for the global investment community announced the results of the November 2023 Index Review for the MSCI Equity Indexes - including the MSCI Global Standard, MSCI Global Small Cap and MSCI Micro Cap Indexes, the MSCI Frontier Markets, and MSCI Frontier Markets Small Cap Indexes, the MSCI Global Islamic and MSCI Global Islamic Small Cap Indexes, the MSCI US Equity Indexes, the MSCI US REIT Index, the MSCI China A Onshore indexes and the MSCI China All Shares
Indexes.