MSCI Global Standard Index Review Date: Which Companies Are Likely To Join?

Morgan Stanley Capital International Inc. (MSCI), a global leader in equity, fixed income, and real estate indices as well as ESG and climate-focused financial products, will release the results of its semi-annual index review on May 14, 2025. The changes will take effect after market close on May 30, 2025.

Industry experts note that this review is a critical event for global investors, as adjustments to MSCI’s widely tracked indices often trigger large fund flows across equity markets.

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Likely Inclusions: Who's in the Spotlight?

Several Indian stocks are under the spotlight ahead of the upcoming review, with a mix of potential inclusions and exclusions likely to impact passive inflows and outflows.

Coromandel International is among the leading candidates for inclusion. The fertiliser company has surged 14% year-to-date, significantly outperforming the Nifty 50, which is down around 1% in the same period. If included, it could attract estimated passive inflows of $210 million.

Despite a 15% decline in its share price this year, One 97 Communications ( Paytm ’s parent company) is still seen as a strong contender. It may draw inflows of approximately $209 million, reflecting continued institutional confidence despite recent headwinds.

FSN E-Commerce Ventures (Nykaa) and Adani Energy Solutions have also gained traction, rising 16% and 11%, respectively, in 2025. Both are expected to benefit from index inclusion, potentially receiving around $178 million in inflows each.

Likely Exclusions: Who Might Be Dropped?

On the flip side, Thermax and Sona BLW Precision Forgings are viewed as possible exclusions. Thermax has fallen 25% year-to-date, while Sona BLW has dropped 17%. If removed, Thermax could see outflows of around $162 million, with Sona BLW facing potential withdrawals of $111 million.

These estimates, based on market forecasts, underscore how MSCI’s decisions can shape capital flows and stock price movements. As the announcement date approaches, institutional investors are expected to adjust their portfolios accordingly.

MSCI’s index reviews consider multiple criteria for inclusion or exclusion, including market capitalization, liquidity, and foreign ownership limits. The reviews cover a wide range of benchmarks, including the MSCI Global Standard, MSCI Small Cap, and MSCI Emerging Markets indices.