MSCI Rejig: Coromandel International, Nykaa Parent FSN E-Commerce Added In May 2025 Rebalancing
MSCI’s May 2025 index reshuffle added Coromandel International and FSN E-Commerce Ventures to its Global Standard Index, while Sona BLW was removed from the MSCI India Domestic Index.
Coromandel International Ltd. and FSN E-Commerce Ventures Ltd., the operator of e-commerce platform Nykaa, have been added to the MSCI Global Standard Index as part of MSCI’s May 2025 semi-annual review, according to a statement early on Wednesday. The changes will take effect after market close on May 30. There were no deletions from the index.
Brokerage house IIFL Alternate Research had anticipated the inclusion of Coromandel, Nykaa and Paytm operator One97 Communications Ltd., while expecting Thermax Ltd. to be dropped. Coromandel’s inclusion could bring passive inflows of $227 million, while Nykaa may see inflows of $181 million, according to IIFL Research.
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MSCI Rejig: Coromandel International, Nykaa Parent FSN E-Commerce Added In May 2025 Rebalancing
Other Index Changes
In the MSCI India Domestic Index, MSCI added Coromandel International Ltd. and GMR Airports Infrastructure Ltd., while removing Sona BLW Precision Forgings Ltd.
There were no changes in the MSCI India Large Cap Index.
In the MSCI India Mid Cap Index, Coromandel International Ltd. and FSN E-Commerce Ventures Ltd. were added. No stocks were removed.
Small-Cap Indices See Major Rebalancing
The MSCI India Small Cap Index saw 11 additions, including Tata Technologies Ltd., AWL Agri Business Ltd., Hexaware Technologies Ltd., Authum Investment and Infrastructure Ltd., Sai Life Sciences Ltd., International Gemmologic Laboratory Ltd., Dr Agarwal’s Health Care Ltd., Sagility India Ltd., Godrej Agrovet Ltd., and Acme Solar Holdings Ltd.
At the same time, 21 stocks were deleted, including Coromandel International Ltd., Godrej Industries Ltd., Shyam Metalics and Energy Ltd., Gateway Distriparks Ltd., and Teamlease Services Ltd.
Meanwhile, the MSCI India Domestic Small Cap Index saw 12 additions and 21 deletions. Additions include Acme Solar Holdings Ltd., Authum Investment and Infrastructure Ltd., AWL Agri Business Ltd., Dr Agarwal’s Health Care Ltd., Godrej Agrovet Ltd., Hexaware Technologies Ltd., International Gemmologic Laboratory Ltd., Le Travenues Technology Ltd., Premier Energies Ltd., Sagility India Ltd., Sai Life Sciences Ltd., and Sona BLW Precision Forgings Ltd.
Stocks removed from the domestic small-cap list include Aarti Drugs Ltd., Allcargo Logistics Ltd., Coromandel International Ltd., E2E Networks Ltd., Gateway Distriparks Ltd., Godrej Industries Ltd., Greenpanel Industries Ltd., Gujarat Alkalies and Chemicals Ltd., HeidelbergCement India Ltd., Hemisphere Properties India Ltd., Moschip Technologies Ltd., NOCIL Ltd., Orchid Pharma Ltd., Orissa Minerals Development Company Ltd., Paisalo Digital Ltd., Patel Engineering Ltd., Prince Pipes and Fittings Ltd., Rossari Biotech Ltd., Share India Securities Ltd., and Shyam Metalics and Energy Ltd.
