The August rebalancing of the MSCI India Standard Index could see inclusion of Swiggy, Mazagaon Dock Shipbuilders, Hitachi Energy India, and Waaree Energies, with an expected cumulative inflow of $850mn, JM Financial said in a report. The rebalancing announcement of the index is scheduled on August 7, post the market hours.
The changes made in the MSCI rejig will be effective from August 27, JM Financial said. The brokerage firm has assigned a ‘high probability’ for Swiggy’s inclusion in the MSCI index in August, which if happens, could lead to potential inflows worth $385mn in the stock. The food delivery stock has lost over 33% in 2025 so far, but it has gained over 14% in last one month. The stock is down 7% from its IPO price.
However, the brokerage has assigned ‘medium probability’ for Mazagon Dock and Hitachi Energy India for their inclusion in the index during MSCI August rejig. Inflows of $187mn and $165mn are expected for Mazagon Dock and Hitachi Energy, respectively. Mazagon Dock shares have gained 42% in 2025 so far, while they have lost 0.5% in last one month. Hitachi Energy has climbed 22% this year and 13% in last one month.
On the other hand, the probability for Waaree Energies’ inclusion in the MSCI indices is ‘low’, according to the JM Financial’s report. The inclusion of this stock could result in inflows of $132mn. The stock has given only 1% return on year-to-date basis, and 0.7% in the last one month.
In May, FSN E-Commerce Ventures, the parent company of Nykaa, and Coromandel International made the cut for inclusion in the MSCI India Index. There were no deletions in that rejig. The MSCI India Domestic Index saw two additions—Coromandel International and GMR Airports Infrastructure, the airport operator—while Sona BLW, an automobile components manufacturer, was deleted.
