Worldwide file specialist co-op MSCI (Morgan Stanley Capital Global) may remember two likely Indian stocks for its benchmark record as a feature of its half-yearly survey, to be reported on May 11, 2023.
In a note, brokerage Emkay stated that Ashok Leyland and Hindustan Aeronautics meet the size and liquidity requirements until March 23, 2023. It added that it does not anticipate any exclusion at this time.
“Assuming a price cut-off date of March 23, 2022,” “We have assessed the likely changes in the MSCI India Standard Index.”
On June 1, 2023, all changes to its widely followed stock index will take effect.
After OFS in March, HAL, Ashok Leyland Share HAL free-float market capitalization may increase by up to 3.5% (20.5 million to 23.8 million). MK stated that the possibility of its inclusion in the MSCI India index is high if the price remains above 2370-2400 levels for the next two months.
The 200-DEMA at 2347 and the February 23 low at 2290 provide the stock with support. Upon incorporation, $102 million (3.9 times ADV) would be expected inflows.
Since six months ago, Ashok Leyland has traded in a wide range of 135-150. The stock meets the size requirements to a slight degree at the lowest end of this range.
As a result, the brokerage stated that the auto stock will continue to be a less likely inclusion candidate as long as it remains at these levels. On incorporation, $104 million would be anticipated (5x ADV).
In Friday trading, HAL shares increased by nearly 4% to 2,593.10 on the NSE. In the meantime, Ashok Leyland Ltd. shares increased by 0.91% to 138.55 dollars each.
The largest US-listed India-focused exchange-traded fund, the $5 billion iShares MSCI India ETF, rose 38.72 percent on March 23, but has since lost 7.59 percent.
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