MSCI Review: Winners, Losers & the Flow of Funds

Today, on 6 November 2025, MSCI has announced a reshuffling of its India Standard MSCI index as well as Smallcap Indices. In this MSCI rejig, there are four new stocks that have been added to the India Standard Index, while two others have been removed from the index. 

Changes to the MSCI Indices

The four stocks that are added to the MSCI Standard Index in this MSCI rejig are – 

• Fortis Healthcare
• One97 Communications or Paytm 
• GE Vernova T&D
• Siemens Energy India

On the other hand, the two stocks which are dropped from the MSCI Standard index include – 

• Tata Elxsi
• Container Corporation of India

These two stocks, which were removed from the India Standard Index, have now been added to the MSCI Small Cap Index India.

Change in the Weightage of Stocks 

Now, apart from the change in the stocks, there are also changes in the weightage of 14 stocks. Out of these 14, 8 will see an increase in their weightage, while the other 6 will see a decrease in their weightage. 

This cumulatively will increase India’s weightage in the MSCI Standard Index to 15.6% from the current 15.5%, and the total number of companies representing the country will increase to 163 from the current 161. 

Stocks with an increase in Weightage 

1. Asian Paints
2. Apollo Hospitals 
3. Lupin
4. SRF
5. Suzlon Energy
6. Yes Bank
7. Alkem Laboratories
8. Jubilant Foodworks

Stocks With Decline in Weightage 

1. Samvardhana Motherson
2. Dr. Reddy’s Laboratories
3. REC
4. Zydus Lifesciences
5. Bharat Forge
6. Colgate – Palmolive India

Inflow and Outflow Projections  

As per Nuvama Alternative & Quantitative Research, the addition of stocks can lead to an inflow of $252 million, which can even go up to $436 million, and the removal of the two stocks can lead to an outflow of up to $162 million. 

Stock	Inflows / Outflows ($ Million)
Fortis Healthcare	+436
Paytm	+424
GE Vernova T&D	+351
Siemens Energy India	+252
Tata Elxsi	-162
Container Corporation	-146

The stock, which will see an increase in its weightage, can lead to an inflow of up to $95 million, and here are the detailed projections – 

Stock	Inflows ($ Million)
Asian Paints	95
Apollo Hospitals	41
Lupin	35
SRF	34
Suzlon Energy	30
Yes Bank	28
Alkem Labs	27
Jubilant Foodworks	15

On the contrary, the stocks whose weights are reduced can lead to an outflow of up to $50 million, as projected below

Stock	Outflows ($ Million)
Samvardhana Motherson	-53
Dr. Reddy’s Laboratories	-51
REC	-47
Zydus Lifesciences	-45
Bharat Forge	-31
Colgate-Palmolive India	-29

Inclusions and Exclusions of Smallcap Index

As stated above, the two stocks, Tata Elxsi and Container Corp., which were dropped from the MSCI Standard Index, have been added to the Smallcap Index, but apart from these two, there are significant additions and removals from the Index as well. Here is the complete list – 

Inclusions	Exclusions
ACC	Rain Industries
Honeywell Automation	Balaji Amines
Leela Palaces Hotels	Raymond
Blue Jet Healthcare	Quess Corp
	Restaurant Brand Asia

Conclusion 

So, this time, the MSCI rejig has been quite deep with some significant changes in the index constituents, and the weightage change is also significant, opening up the space for more inflows, but the outflows can also be significant. 

Source: CNBC TV18

Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.