MSCI India rejig: Eternal likely to see highest inflows at $648 mn; Lenskart, Groww among Nuvama’s expected inclusions

Nuvama and JM Financial expect the upcoming MSCI India Standard Index rejig to drive around $2.3 billion in net passive inflows into Indian stocks effective August 31. Eternal tops the inclusion list with an estimated $648 million inflow on a weight increase, followed by Laurus Labs (about $518 million), Adani Energy Solutions (about $324 million), Lenskart (about $272 million), Groww (about $260 million) and Biocon (borderline at about $262 million). On the exclusion side, Balkrishna Industries (about $162 million), SBI Card (about $141 million) and Astral (about $133 million) face the largest outflows.