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MSCI Confirms August Rebalance, Adds Four Stocks to MSCI India Standard Index

The reshuffle will channel roughly $1.03 billion into the added companies with funds preparing to rebalance before August 26.

Overview

  • On August 8, MSCI officially confirmed the addition of Swiggy, Vishal Mega Mart, Waaree Energies and Hitachi Energy India to its India Standard Index, and the removal of Sona BLW Precision Forgings and Thermax, effective after market close on August 26, 2025.
  • Nuvama Alternative & Quantitative Research projects roughly $1.03 billion of passive inflows for the four new Standard Index constituents, led by $287 million for Vishal Mega Mart and $285 million for Swiggy.
  • The excluded stocks Sona BLW and Thermax are estimated to face passive outflows of about $186 million and $154 million respectively as index-tracking funds adjust their portfolios.
  • In the parallel Small Cap Index review, MSCI added 15 stocks and removed six, reshaping the small-cap universe ahead of the same effective date.
  • Passive index-tracking funds are expected to drive significant trading around the late-August reshuffle, influencing liquidity and share valuations in Indian markets.