Vedanta to be removed from MSCI Global Standard Indexes from June 22

MSCI will remove residual Vedanta from its Global Standard and Large Cap indices effective June 22, following the completion of the conglomerate's demerger into five listed entities. Four new companies—Vedanta Aluminium (debuted at Rs 527, m-cap Rs 2.06 lakh crore), Vedanta Power (Rs 41.30), Vedanta Oil & Gas (Rs 39), and Vedanta Iron & Steel (Rs 22)—listed on BSE and NSE on Monday, with Vedanta Aluminium emerging as the group's new large-cap crown jewel. Vedanta had carried roughly 78 bps weight in the MSCI Emerging Markets Index, and its shares fell over 2% to below Rs 296 on the news of the index deletion.