Hyundai India launched its initial public offering (IPO) in October, raising ₹27,870 crore, making it the largest IPO in Indian stock market history. The stock is currently trading about 7.7% lower than its offer price of ₹1,960.
The weights of IndusInd Bank, Zomato, Varun Beverages, Mankind Pharma, Torrent Pharmaceuticals, Dixon Technologies, PB Fintech, Adani Enterprises, and Voltas have increased in the MSCI Standard Index.
According to Abhilash Pagaria of Nuvama Alternative & Quantitative Research, India’s weight in the Emerging Markets (EM) index, currently around 18.8%, is expected to rise to 19% by the adjustment date. This will result in net passive inflows of $850 million to $1 billion, primarily led by Hyundai’s inclusion and an increase in IndusInd Bank’s weight, he said. Meanwhile, stocks such as Adani Green Energy, Reliance Industries, HDFC Bank, Infosys, ICICI Bank, and Bharti Airtel will see a reduction in their weights.
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