- Aditya Birla Capital and L&T Finance added to MSCI Global Standard Index in February 2026 review
- IRCTC removed from MSCI Global Standard Index effective February 27, 2026
- AU Small Finance Bank’s index weight increased due to float adjustment
Aditya Birla Capital Ltd and L&T Finance Ltd. have been added to the MSCI Global Standard Index as part of MSCI's February 2026 review, while IRCTC has been removed, MSCI announced the revisions early Wednesday. Meanwhile, AU Small Finance Bank will see a weight increase in the index due to a float adjustment, MSCI said. The changes will come into effect on Feb. 27.
Following the rejig, India's weight in the MSCI Standard Index remains unchanged at 14.1%. The number of Indian companies in the index will increase by one, rising from 164 to 165.
Aditya Birla Capital is estimated to see inflows of about $257 million (approximately Rs 2,328.12 crore), while L&T Finance could attract around $238 million. IRCTC is expected to face outflows of about $142 million, according to Nuvama Alternative & Quantitative Research. AU Small Finance Bank is estimated to see inflows of around $172 million following the weight increase, it added.
The February review also includes several changes to the MSCI Smallcap Index. Multiple Indian stocks have been added, including Premier Energies, National Securities Depository, Emcure Pharmaceuticals, JSW Cement, Ashapura Minechem, Canara HSBC Life Insurance and Thyrocare Technologies. Some stocks, such as Akzo Nobel India, saw an increase in weight due to float adjustment.
At the same time, the Smallcap Index recorded a large number of exclusions from India. These include L&T Finance, Gokaldas Exports, Sterlite Technologies, KNR Constructions, JK Lakshmi Cement, VRL Logistics, Ashoka Buildcon, Anup Engineering, Chemplast Sanmar, Websol Energy Systems, Kaveri Seed Company, Zaggle Prepaid Ocean Services and Symphony, along with several others.
The number of Indian stocks in the MSCI Smallcap Index will decline sharply after the review, with the total count falling to 480 from 508, reflecting continued pressure across the small-cap segment.
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