Paytm, Fortis, GE Vernova, Siemens Energy Included in MSCI India Standard Index; Concor, Tata Elxsi Deleted
In its November 2025 rejig, MSCI has announced changes to the MSCI India Standard Index, with several key inclusions and deletions set to take effect at the close of November 24, 2025. The announcement, made on November 5, 2025, has significant implications for the constituent stocks and potential fund flows.
Key Inclusions
The stocks added to the MSCI India Standard Index are Paytm, Fortis Healthcare, GE Vernova, and Siemens Energy. These additions reflect the evolving dynamics of the Indian equity market and the increasing prominence of these companies within their respective sectors.
Key Deletions
Simultaneously, Container Corporation of India (Concor) and Tata Elxsi have been removed from the index. These deletions may lead to adjustments in the portfolios of investors who track the MSCI India Standard Index.
Impact and Implications
The inclusion of stocks in the MSCI India Standard Index typically leads to substantial inflows from global funds that track these indices. This is because fund managers often rebalance their portfolios to align with the updated index composition. Conversely, the deletion of a stock can result in outflows as fund managers reduce their holdings. The changes are scheduled to be implemented by the close of November 24, 2025.
The MSCI India Index is designed to measure the performance of the large and mid-cap segments of the Indian market, covering approximately 85% of the Indian equity universe. The index is widely used by investors globally as a benchmark for Indian equities. The last rebalancing occurred in August, when MSCI announced an increase in the weightage of HDFC Bank shares in its indices, implemented in two phases.
MSCI's decision to include and exclude specific stocks is based on a variety of factors, including market capitalization, free float, and liquidity. These periodic reviews ensure that the index accurately reflects the current state of the Indian equity market.
