Passenger Transportation
MSCI will add India's Aditya Birla Capital and L&T Finance as part of its flagship global index, while dropping IRCTC
In a periodic reshuffle, global index provider MSCI has added financial services firms Aditya Birla and L&T Finance into its widely tracked Global Standard Index. State-run Indian Railway Catering and Tourism Corporation was removed. The changes announced on Wednesday will come into effect on the 27th of February. The MSCI indexes are globally recognized benchmarks that large passive funds track. This means that additions to the index typically result in new capital flows, while removals generally lead to outflows. After the rejig the number of Indian companies in the MSCI Global Standard Index is expected to rise from 164 to...