Mumbai: ready to enter MSCI India Index Later this month, barely months after the foodtech firm became the first consumer Internet startup to list on national stock exchanges
After blockbuster debut,

Other new entrants will be SRF, Tata Power, Mindtree, Godrej Properties, IRCTC, Mphasis, Bharat Electronics and Bajaj Holdings. This follows the November semi-annual index review by global index service provider MSCI.

The changes will be implemented after the end of November 30. Analysts are expecting an inflow of around $1.4 billion from passive funds in these nine stocks. After the change, the number of Indian stocks in the MSCI Standard Index will increase from 101 to 108. The index provider has dropped two stocks – IPCA Laboratories and REC – from the MSCI India Index.

An inflow of Rs 1,200 crore can be seen in the shares of the online food delivery and restaurant discovery platform.
Friday closed at a record high of Rs 153 with a gain of 9%,

Fund managers said the inclusion of new-age technology firms in big league indices would help inflows from long-term passive funds into listed Indian startups. Nilesh Shah, Managing Director, Kotak Mahindra Asset Management said, “New age digital companies can change the style of investing and investment philosophy.” “These companies will see more investor interest when they reach a certain size and scale. If these companies can demonstrate a clear path to profitability, so can long-term investors.”

The MSCI indices are widely tracked globally, with many passive funds duplicating their portfolios in line with stock weightings. These funds have to be bought or sold when the weight of a stock in the index rises or falls.

According to an estimate by Edelweiss, Tata Power could see an inflow of Rs 1,800 crore, while passive fund purchases could be Rs 1,733 crore from SRF. Mindtree and IRCTC, which have grown by 117% and 142% respectively in the last six months, may see idle inflows of Rs 1,500 crore and Rs 1,283 crore.

Bajaj Holding, IRCTC and SRF each rose around 2%. Shares of REC fell nearly 3%. According to the brokerage firm, IPCA Laboratories, which has been flat in the last six months, may see an outflow of a little over Rs 800 crore, while REC may see an outflow of Rs 758 crore with the MSCI index rising.

MSCI has also added 64 stocks to its MSCI India Domestic Small Cap Index, including Allcargo Logistics, ABB Power, Asahi India Glass, Mastek, NIIT, Chemplast Sanmar, Carborundum Universal, Nocil and Hikal. At the same time, 10 stocks have been excluded from the MSCI India Small Cap Index list.