Biocon, HDFC Std Life Insurance, InterGlobe Aviation, Avenue Supermarts to be added to MSCI India index

New Delhi: As many as four companies - Avenue Supermarts, Biocon, HDFC Standard Life Insurance Company and InterGlobe Aviation - will be added to the MSCI India Index with effect from 1 June.

The news triggered buying in most of these companies, with shares of Avenue Supermarts surging 6.5 percent to Rs 1,516.80 on BSE.

InterGlobe soared 5 percent to Rs 1,248.55 and Biocon went up 2.49 percent to Rs 650. The scrip of HDFC Standard Life however, fell sharply by 8.14 percent to Rs 496.30. The changes in the constituents for MSCI India domestic index will take place as of close of 31 May, 2018, MSCI India announced on Monday. IDFC Bank, Power Finance Corporation and Vakrangee will move out of the index, it said. [caption id=“attachment_4470095” align=“alignleft” width=“380”]  Biocon. Reuters[/caption] Changes in the constituents for the MSCI India domestic small cap index were also announced, which will also take place as of close of May 31. A total of 30 companies were added, while 15 will be deleted. IDFC Bank, Indian Bank, Power Finance Corporation, Vakrangee, Varun Beverages, among others were added in the MSCI India small cap index. The 15 companies that will move out from the index include AstraZeneca Pharma India, Balrampur Chini Mills, Biocon. MSCI is a leading provider of benchmark indices globally.