- Coforge, LIC, Adani Green Energy, and Meesho may join MSCI index in November rejig
- Potential inflows: $653M for Coforge, $498M for LIC, $300M for Adani Green, $254M for Meesho
- ICICI Life and PI Industries likely to be excluded with estimated outflows of $145M and $118M
Coforge Ltd., Life Insurance Corporation of India (LIC), Adani Green Energy Ltd. and Meesho are among the stocks that may get included in the MSCI index in the upcoming November rejig, according to estimates by Nuvama Alternative & Quantitative Research.
The announcement is due on November 12, while the changes are scheduled to take effect from November 30.
Nuvama estimates potential inflows of $653 million into Coforge, the highest among the likely inclusions. LIC could see inflows of $498 million, followed by Adani Green Energy at $300 million and Meesho at $254 million.
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The estimated inflows are equivalent to 11 times Coforge's average daily trading volume (ADV), 16 times for LIC, 12 times for Adani Green Energy and six times for Meesho.
Stocks Likely To Be Excluded
On the exclusion front, ICICI Life and PI Industries are among the stocks that are likely to see outflows following the rejig.
Nuvama estimates outflows of $145 million from ICICI Life, equivalent to 19 times its average daily trading volume. PI Industries could see outflows of $118 million, or seven times its ADV.
MSCI index changes can influence foreign portfolio investor flows, as passive funds tracking the indices adjust their holdings to reflect changes in constituent stocks.
MSCI August Rejig
In the August 2026 review, Laurus Labs, Lenskart, Adani Energy Solutions and Groww were added to the MSCI Standard Index, while Balkrishna Industries, SBI Cards and Astral were removed.
The changes are expected to increase India's weight in the index to 11.9% from 11.8%, with the number of constituents rising to 166 from 165.
According to Nuvama Alternative & Quantitative Research, the four additions were expected to attract inflows of $598 million into Laurus Labs, $352 million into Lenskart, $310 million into Adani Energy Solutions and $256 million into Groww.
Among the exclusions, Balkrishna Industries was expected to see outflows of $169 million, followed by SBI Cards at $143 million and Astral at $138 million.
MSCI index changes can influence foreign portfolio investor flows, as passive funds tracking the indices adjust their holdings to reflect changes in constituent stocks.
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