Torrent Pharma, Biocon candidates for MSCI Index: Morgan Stanley

Among the exclusion candidates, the likelihood of exclusion is high for all three candidates. Bharat Forge is likely to see outflows of $40 million, Tata Power at $21 million, and Mahindra and Mahindra Financial Services are likely to see outflows of $31 million.

The likelihood of weight increase of HFDC Standard Life Insurance is high with likely inflows of $ 66 million.

MSCI is due to announce the results of its semiannual index review on the morning of May 13, including a list of stock additions and removals along with changes in weightings. All changes will be made as of the close of May 29, 2020.

Using the MSCI framework, the most important conditions to be met are full market cap and free-float market cap), Morgan Stanley in this report has short-listed stocks that meet the criteria to be included in the MSCI India Index. It has highlighted the potential list of stocks that could see inclusion, deletion, and weight increases.

Morgan Stanley has made corrections to the 'Exclusion candidates' list in this report, adding in Mahindra and Mahindra Financial Services (MMFS).

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