MSCI August rejig: Swiggy, Vishal Mega Mart, Waaree Energies and 15 other stocks may see $1.03 billion inflow
Brace yourself for the big MSCI August rejig. Swiggy, Waaree Energies, Vishal Mega Mart, and Hitachi Energy India shares are likely to be included in the MSCI India Standard Index as part of its August 2025 review, as per the expectations of key brokerage houses like Nuvama Alternative & Quantitative Research.
“In the Standard Index, we have four high-conviction inclusions and two exclusions. Based on our calculations, Paytm qualified for inclusion as early as Day 4 of the review period. However, our understanding is that the cut-off period was earlier, which likely pushes Paytm’s inclusion to the November 2025 review. We estimate potential inflows of $270 million, equivalent to approximately 3 days of trading impact,” said Abhilash Pagaria, Head of Nuvama Alternative & Quantitative Research.
As per the estimates of Nuvama, the inclusion of these four stocks can attract an inflow of as much as $1.03 billion after the announcement of the review on August 08.
The brokerage firm expects that Vishal Mega Mart may witness the highest inflow at $287 million, trailed by Swiggy with $285 million. Hitachi Energy India and Waaree Energies are expected to see inflows of $240 million and $217 million, respectively.
Stocks to be excluded
However, Sona BLW Precision Forgings and Thermax are likely to be excluded from the MSCI Standard Index. The stocks are expected to see outflows of $186 million and $154 million, respectively. These adjustments will come into effect after market close on August 26, 2025.
MSCI Smallcap Index
Apart from the Standard Index, the MSCI Smallcap Index will likely see 12 additions and 4 stocks will be excluded in the August review.
Inventurus Knowledge Solutions, Ather Energy, Brainbees Solutions, Capri Global Capital, Lumax Auto Technologies, Transrail Lighting, Belrise Industries, India Glycols, Lloyds Enterprises, CSB Bank, Yatharth Hospital, and Zinka Logistics Solutions are likely to be included in the index.
However, four stocks will be excluded from the MSCI Smallcap index: Bharat Dynamics, Bondada Engineering, Hikal, and Kennametal India.
According to Nuvama’s analysis, One 97 Communications (Paytm) shares qualified for inclusion as early as Day 4 of the evaluation period. Nevertheless, because of the previous cut-off date, their inclusion is expected to be postponed until the November 2025 review. Nuvama anticipates possible inflows of $270 million into Paytm, which could result in an estimated trading impact comparable to three days.