A November reshuffle of MSCI’s India Standard Index could result in about $1.4 billion in net passive flows across the stocks affected, according to estimates from JM Financial Institutional Securities reported by Business Standard and Mint.
The brokerage identified Life Insurance Corporation of India (LIC) and Meesho as high-probability additions. It also sees Coforge as a candidate to move from MSCI India Small Cap to the Standard Index. Oracle Financial Services Software Limited (OFSS) and Siemens Energy India Limited are potential exclusions, the reports said.
The estimates reflect about $1.9 billion in potential inflows to the possible additions and $497 million in outflows from potential exclusions, Business Standard reported. MSCI’s calendar schedules the review announcement for Nov. 11, 2026, with changes effective Dec. 1, 2026; the calendar does not specify an announcement time or time zone.
MSCI’s methodology uses company size, free-float-adjusted capitalization and liquidity measures to determine index eligibility. The Standard Index targets coverage of 85% ± 5% of a market’s free-float-adjusted capitalization.
The forecast is not a final MSCI decision. Business Standard reported that JM Financial analyst Abhishek Kumar emphasized liquidity management for affected holders.
