MSCI adds LIC, Coforge, Adani Green, Meesho to index

Mumbai: Index provider MSCI has added four local stocks - Life Insurance Corporation of India (LIC), Coforge, Adani Green Energy and Meesho - to its Emerging Markets Standard Index in the November 2026 review. PI Industries has been excluded.The changes will take effect on November 30. According to Nuvama, Coforge's inclusion could attract passive inflows of around $630 million. LIC, Adani Green Energy and Meesho could see inflows of $468 million, $348 million and $307 million, respectively. PI Industries' exclusion could lead to outflows of about $119 million.With four additions and one exclusion, the number of constituents in the MSCI Emerging Markets Standard Index will rise to 168 from 165. India's weight in the broader MSCI Emerging Markets Index is set to increase from 11.5% to 11.7%. The changes are broadly in line with Nuvama's expectations, except for ICICI Prudential Life Insurance, which avoided exclusion after its float factor was maintained.Read more: New SIP registrations fall 20%, stoppage ratio climbs to 116% in October after 5-month declineAlso 11 stocks will see their weights increase in the Standard Index. These include Billionbrains Garage Ventures, the parent of Groww; Lenskart Solutions; JSW Steel; Adani Energy Solutions; Coal India; One 97 Communications (Paytm); Bharat Forge; Oracle Financial Services Software; Zydus Lifesciences; Vedanta; and Bosch.Nuvama estimates that the increase in weights could bring passive inflows ranging from $10 million to $97 million into these stocks.Read more: Meesho block deal: SoftBank-backed entity likely to sell 1% stake worth Rs 1,174 croreNine stocks will see their weights decline: NTPC, Eicher Motors, Grasim Industries, REC, Hindustan Aeronautics, Cipla, GAIL India, MRF and Siemens India. The changes could result in outflows ranging from $10 million to $97 million, according to Nuvama.The MSCI Emerging Markets Small Cap Index will see 11 additions and 29 exclusions, taking the number of constituents down to 432 from 450. The stocks being added are PI Industries, Shadowfax Technologies, Apollo Micro Systems, HUDCO, Diamond Power Infrastructure, Aequs, Viyash Scientific, E2E Networks, SG Mart, Molbio Diagnostics and Axiscades Technologies.