IOC, REC enter MSCI index
Two state-owned firms Indian Oil Corporation (IOC) and Rural Electrification Corporation (REC) will be included in the MSCI India index, while drug firm Divis Laboratories will move out.
Shares of IOC rose by 1.09 per cent to settle at Rs 446.45 on BSE. During the day, it gained 2 per cent to Rs 450.65. Shares of Rural Electrification Corporation however, fell by 0.94 per cent to end at Rs 216.90.
- Divis Laboratories will move out from the index. Shares of the company ended flat at Rs 623.85, down 0.06 per cent.
- The changes in constituents for the MSCI Global Standard Indexes were announced on Monday and will take place as of close of May 31, 2017.
- Changes were also announced in constituents for the MSCI global small cap indexes which will also take place as of the close of May 31, 2017.
- 15 companies would be added to the index, while 11 will move out.
- Additions in the MSCI India index include BSE, Dr Lal PathLabs, while those who would move out are AstraZeneca Pharma, Coffee Day Enterprises, Unitech among others.
- MSCI is a leading provider of benchmark indices globally.