- Eternal, Adani Energy Solutions, and Laurus Labs may benefit from MSCI India Index review in August 2026
- Eternal could see passive inflows of nearly $520 million due to higher index weight
- Laurus Labs and Adani Energy Solutions may attract $410 million and $260 million inflows if included
Eternal Ltd., Adani Energy Solutions Ltd. and Laurus Labs Ltd. are emerging as the biggest potential beneficiaries of the upcoming MSCI India Standard Index review, according to Axis Capital's latest expectations for the August 2026 rebalance.
The brokerage expects Adani Energy Solutions and Laurus Labs to be included in the MSCI India Standard Index, while Eternal is seen receiving a higher index weight, potentially attracting the largest passive inflows among the stocks under review. The index changes are scheduled to be announced on Aug 12, after market hours, and will become effective from Sept 1.
Among the expected beneficiaries, Eternal could attract nearly $520 million (around Rs 5,000 crore) of passive inflows because of a likely increase in its index weight. Axis Capital estimates this could translate into buying equivalent to about 174.3 million (or 17.43 crore) shares, making it the largest flow event in the current review.
For the potential new entrants, the brokerage estimates Laurus Labs could receive passive inflows of around $410 million (around Rs 3,942.29 crore), while Adani Energy Solutions may see inflows of about $260 million (around Rs 2,500.82 crore) if both are added to the benchmark index. The brokerage assigns a high probability to both inclusions based on current market data and MSCI's methodology.
On the other side of the reshuffle, Astral, SBI Cards and Payment Services and Balkrishna Industries face the risk of exclusion. Axis Capital expects passive outflows of around $110 million (around Rs 1,057.93 crore) from SBI Cards, $102 million (around Rs 980.93 crore) from Astral and $122 million (around Rs 1,173.20 crore) from Balkrishna Industries, although it classifies Balkrishna's exclusion as a borderline case.
The brokerage also flagged Glenmark Pharmaceuticals and Coforge as potential inclusion candidates if their share prices rise by roughly 10% and 6%, respectively, before MSCI's cut-off period later this month.
The final composition will depend on MSCI's price cut-off date, which can fall on any of the last ten trading sessions of July, meaning the list of additions and deletions could still change before the official announcement.
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