The upcoming MSCI India Standard Index rebalancing, scheduled to be announced on August 12 after market hours, could result in as many as 12 inclusions and three exclusions, potentially triggering passive inflows of about $2.3 billion. The changes, if announced, will come into effect from August 31, 2026.
Among fresh additions, Adani Green, Groww and Adani Energy Solutions have emerged as high-probability candidates for inclusion in the MSCI India Standard Index during the August review. Ather Energy is seen as a medium-probability candidate, with its inclusion dependent on continued improvement in its free-float adjusted market capitalisation during the remaining observation period, while Lenskart and Steel Authority of India (SAIL) are low-probability candidates.
According to JM Financial report, if included, Groww is estimated to attract passive inflows of about $821 million, followed by Adani Green at $773 million, Adani Energy Solutions at $342 million, Ather Energy at $244 million, Lenskart at $176 million and SAIL at $170 million.
Among stocks that could migrate from the MSCI India Small Cap Index to the Standard Index, Laurus Labs and Biocon are identified as high-probability candidates. Coforge is a medium-probability candidate, while Glenmark Pharma and Uno Minda are classified as low-probability candidates, with their migration contingent on sustained improvement in free-float adjusted market capitalisation.
Estimated passive inflows stand at about $567 million for Coforge, $554 million for Laurus Labs, $330 million for Glenmark Pharma, $285 million for Biocon and $206 million for Uno Minda, JM Financial report added.
On the exclusion side, Astral is seen as a high-probability candidate for removal from the index, while SBI Cards is viewed as a medium-probability exclusion candidate. Balkrishna Industries is identified as a low-probability exclusion. If excluded, the stocks could see passive outflows of about $167 million for Balkrishna Industries, $146 million for SBI Cards and $138 million for Astral.