Global index provider MSCI said on Thursday it will add four Indian companies to its widely tracked Global Standard index and remove three as part of its August review, underscoring the continuing churn in India's representation within global passive portfolios.
The changes will be implemented after the close of trading on August 31, 2026, and take effect on September 1, MSCI said.
Laurus Labs (LAUL.NS), an active pharmaceutical ingredients manufacturer; Lenskart (LENS.NS), an omnichannel eyewear retailer; Adani Energy Solutions (ADAI.NS), the Adani Group's power transmission and distribution arm, and Groww (BILO.NS), a digital investment and broking platform, will enter the index.
They will replace tyre maker Balkrishna Industries (BLKI.NS), credit-card issuer SBI Cards (SBIC.NS), and building-materials company Astral (ASTL.NS). Following the reshuffle, the number of Indian constituents in the key MSCI index will rise to 166 from 165.
India's weightage in the global standard index will also rise to 11.9% from 11.8%, according to Nuvama Alternative and Quantitative Research.
The inclusion is expected to trigger significant buying by exchange-traded funds and other passive investors that replicate MSCI benchmarks.
Nuvama Alternative and Quantitative Research estimates potential inflows of about $598 million for Laurus Labs, $352 million for Lenskart, $310 million for Adani Energy Solutions and $256 million for Groww.
Conversely, Balkrishna Industries, SBI Cards and Astral could see estimated passive outflows of $169 million, $143 million and $138 million, respectively.
The review also recalibrated weights among existing index members. Eternal (ETEA.NS) is projected to attract the largest incremental passive inflow, at around $674 million, following an increase in its weight. Adani Enterprises (ADEL.NS) and Adani Ports (APSE.NS) could receive about $202 million and $77 million, respectively.
Reliance Industries (RELI.NS) is estimated to face outflows of roughly $523 million, while Jio Financial Services (JIOF.NS) may see $61 million in outflows.
Separately, MSCI's Small Cap index review added companies including Amagi Media Labs (AMAI.NS), Ather Energy (ATHR.NS), Clean Max (CLEM.NS), E2E Networks (EENE.NS), Embassy Developments (EMBS.NS), Patanjali Foods (PAFO.NS), Rubicon Research (RUBI.NS), Sedemac Mechatronics (SEDE.NS), Sky Gold and Diamonds (SKYG.NS), United Breweries (UBBW.NS), Urban Company (URBN.NS) and WeWork India (WEWO.NS), while removing 19 stocks.
