

Adani group stocks Adani Transmission and Adani Total Gas, which were two of the three stocks that were excluded from MSCI Global Standard Index may see just over $350 million in outflows, as MSCI rejig takes place on May 31, Nuvama Institutional Equities suggested.
As per Nuvama, India should see a net passive inflows of $500 million due to MSCI changes. Adani Transmission is expected to see $189 million in outflows. Adani Total Gas, on the other hand, is seen $167 million outflow. In total, the two stocks are expected to see $356 million in outflows. Indus Towers, whose shares were also excluded from MSCI indices may see $84 million in outflows, as per Nuvama.
MSCI included Max Healthcare, Hindustan Aeronautics (HAL) and Sona BLW Precision to MSCI indices. While Max Healthcare is expected to see $312 million in inflows, HAL ($196 million) and Sona BLW Precision ($171 million) are also expected to see solid inflows, Nuvama's latest estimates suggested.
Many stocks such as Kotak Mahindra Bank, Maruti Suzuki India, ONGC, UltraTech Cement, InterGlobe Aviation, Zomato and NTPC saw increase in MSCI weightages. Among them, Kotak Mahindra Bank is seen receiving $800 million in flows. Rest all counters are expected to see $50-100 million inflows.
Reliance Industries ($151 million) and Infosys ($105 million) would be two stocks, which will see over $100 million in outlfows, due to weight reduction. ICICI Bank, HDFC, JSW Steel, TCS and Tech Mahindra are expected to see over $50 million in outflows.
Among smallcaps, RVNL, Anupam Rasayan, NMDC Steel, Bikaji Food, Kaynes Technologies, Ircon International, Ujjivan SFB may see $1.8-4.6 million inflows. Polycab, Gillette India, Astec Lifesciences and Dilip Buildcon may see up to $27 million outflows.
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