AU Small Finance Bank, Tata Elxsi and Adani Power soar on MSCI

Shares of AU Small Finance Bank (SFB), Tata Elxsi and Adani Power surged on Friday after index provider MSCI included them in its global index. From the Asia-Pacific region, MSCI added 48 stocks and removed 76, with the most changes in China. India saw four additions and one deletion.

The additions were Tata Elxsi (estimated inflows of $170m), Jindal Steel and Power ($136m), Adani Power ($135m) and AU Small Finance Bank ($72m). Shares of Tata Elxsi and Adani Power also reacted positively, climbing 14.6% and 5% respectively.

Jindal Steel fell almost 2%. The removal of HDFC Asset Management Company alone (estimated outflows of $75 million) fell nearly 4%.

The changes announced by MSCI will be effective from June 1, while index funds are expected to realign their portfolios on May 31.

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First published: Friday, May 13, 2022. 10:40 p.m. IST

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