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Stock Market: MSCI India Index may include stocks of eight companies including Coforge, Fortis Healthcare and Paytm. According to the report of Money Control, brokerage house JM Financial has given this information. Under this, the market capital of Coforge is $ 293 million and that of Fortis Healthcare is $ 176 million. MSCI will publicly announce the new participants of this index on February 11. This will come into effect from March 3. Based on the current prices of all eight indices, the total market capital of the companies included in the index will be $ 1.3 billion. According to the brokerage, the chances of Coforge, Fortins Healthcare, One97 Communication and Coromandel International joining it are very high. On the other hand, the chances of Federal Bank, Blue State, GE Vernova TD India and Uno India joining the index are very less.
Paytm’s market capital is $169 million
Paytm, which is going to be included in MSCI India Index, has a market capital of $ 169 million. Coromandel is a $156 million company and Federal Bank is a $137 million company. GE Vernova TD India and Uno Minda are the least capitalized companies in the list of these eight. Their market capital is approximately equal to 104 million dollars. IndusInd Bank is a $143 million company with 13.2 million shares.
Foreign investment still equal to 25 percent
Despite heavy selling by foreign institutional investors, foreign institutional investors still own 25 percent of the shares in the companies included in the MSCI India Index. After the inclusion of new companies, the inflow of foreign shares in MSCI India Index will increase from $ 250 million to $ 300 million. This will affect the stock market trading for the next three to five days. Nuvama Alternative Research believes that if this happens, it will start showing trends in the stock market trading from February 28.
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