Paytm, Coforge, Fortis Healthcare shares gain up to 6% on MSCI inclusion hopes

Ahead of the upcoming MSCI index review for February 2025, shares of Coforge, One 97 Communications (Paytm), Fortis Healthcare, and Coromandel International surged up to 6% today, in an otherwise weak broader market. The MSCI India Standard Index rebalancing announcement is scheduled on February 11, post market hours, while changes will be effective from March 3, 2025.

Brokerage firm JM Financial anticipates inclusion of Coforge, Paytm, Fortis Healthcare, Coromandel International, Federal Bank, Blue Star, GE Vernova TD India (GVTD), and UNO Minda in the MSCI India Standard Index.

The domestic brokerage house believes that there is “high probability” of inclusion of Coforge, Paytm, Fortis Healthcare, and Coromandel International in the MSCI index, while other four holds low probability of inclusion in the index.

Reacting to the news, Coforge shares rose nearly 2% to touch a high of
₹8,624 on the BSE, while Paytm shares jumped nearly 4% to hit an intraday high of ₹812.50. Fortis Healthcare was the top performer with a gain of 6.3% at ₹668.80, while Coromandel International shares rose 2% to hit an intraday high of ₹1,915.80 on the BSE.

MSCI inclusion to boost inflows in stocks

As per the report, Coforge is expected to see the highest inflow of passive funds $293 million due to the estimated inclusion in the MSCI Standard Index. While Fortis Paytm, and Coromandel are expected to witness fund flows of $176 million, $169 million, and $156 million, respectively.

On the other hand, Federal Bank, Blue Star, GE Vernova TD India (GVTD), and UNO Minda are anticipated to see passive fund flows of $137 million, $143 million, $104 million, and $104 million, respectively, if included in the MSCI India Standard Index.

In addition, the current weight in IndusInd Bank will get doubled, resulting into a buying flow of $145 million, the brokerage firm said in its report.

Meanwhile, Motilal Oswal Financial Services (MOFSL) expects Coforge, Paytm, Coromandel International, UNO Minda, and Fortis Healthcare to be included in the MSCI index.

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