Stocks

Addition to MSCI Index aids the rally; HDFC Asset Management removed

The stocks of Tata Elxsi, AU Small Finance Bank, Adani Power, Jindal Steel & Power rallied on Friday after being added to the MSCI India Index.

The global Index provider on Thursday announced the list of additions and deletions for its May semi-annual index review. 

Adani Power, AU Small Finance Bank, Jindal Steel & Power and Tata Elxsi were added to the MSCI India Index, while deletions included HDFC Asset Management.

At around 1:11 pm, Tata Elxsi climbed over 13 per cent, while Adani Power was locked in the five per cent upper circuit. AU Small Finance Bank rallied nearly five per cent, while Jindal Steel & Power was up over three per cent. 

Tata Elxsi opened at ₹7,171 on the BSE as against the previous close of ₹6,886.60. It recorded an intra-day high of ₹7,915.20 and a low of ₹7,001.

Adani Power opened at ₹242.05 against the previous close of ₹242.55 on the BSE. It recorded an intra-day high of ₹254.65 and a low of ₹242.0

AU Small Finance Bank opened at ₹1,304 against the previous close of ₹1,239.35 and rallied to an intra-day high of ₹1,325.70. It recorded an intra-day low of ₹1,289.85.

Jindal Steel and Power opened at ₹467 against the previous close of ₹459.95 and climbed to a high of ₹481.50 during the day. It recorded an intra-day low of ₹467.00.

Meanwhile, HDFC Asset Management was down over 1 per cent. It recorded an intra-day high of ₹1,861.65 and a low of ₹1,809.05 on the BSE. 

Additionally, in terms of MSCI Smallcap Index additions/deletions, 44 securities were added to the MSCI India Index, while there were 14 deletions.

The remaining ten deletions, from the smallcap indices index include Bajaj Consumer Care, Future Retail, GMR Power & Urban Infra, IOL Chemicals & Pharma, L&T Technology Sevices, NLC India, Solara Active Pharma, Spandana Spoorthy Finance, Sundram Fin and Varun Beverages.

Published on May 13, 2022