MSCI Inc. will announce the list of companies for its index rejig in February.
India currently commands a 17.1% share in the MSCI EM Index. Due to the country's current momentum and outperformance as compared with other emerging markets, Nuvama projects that the index representation could cross 20% by mid-2024.
"Eligibility criteria for newly listed securities are checked based on the data for a three-month period instead of a six-month period," IDBI Capital said in a note.
Suzlon Energy , Mazagon Dock Shipbuilders, SJVN, Kalyan Jewellers Ltd, Exide Industries and Glenmark Pharma are some of the smallcap shares that have now been categorised as midcaps.
Cello World stock market listing: On the NSE, the shares of Cello World debuted at Rs 829, up 27.9 per cent over its issue price. On the Bombay Stock Exchange, the shares of the company opened at Rs 831.