Suzlon hits 52-week high, IndusInd Bank, Paytm, Tata Motors DVR shares rally on MSCI Global Standard Index inclusion

Suzlon share price rallied over 4%, while Tata Motors DVR, IndusInd Bank and Paytm shares also gained in early trade on Wednesday after the stocks were included in the MSCI Global Standard Index.

Suzlon Energy shares jumped as much as 4.81% to a 52-week high of ₹40.50 apiece on the BSE. 

According to Nuvama Alternative and Quantitative Research, the MSCI Global Standard Index inclusion may lead to inflows worth $264 million in Suzlon Energy.

Read here: MSCI Index Rejig: Paytm, IndusInd Bank, Suzlon among nine stocks included in Standard Index

Suzlon shares have witnessed a stellar rally over the past year. Suzlon stock price has jumped over 50% in one month, while it has doubled in the past three months, while it is up more than 281% year-to-date (YTD).

Meanwhile, shares of One 97 Communications, the parent company of fintech giant Paytm, gained nearly 3%. Paytm shares may see inflows worth $163 million on the back of MSCI index inclusion.

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A total of nine stocks have been added to the MSCI Global Standard Index while no exclusions have been made.

Among other stocks that are included, Tata Communications shares rallied over 3.5%, while Tata Motors DVR, Macrotech Developers, Persistent Systems and Polycab India shares gained over 2% each.

Also Read: Yes Bank shares extend Monday rally. Rises 12% in two days

IndusInd Bank and APL Apollo Tubes share price also traded over a percent higher each.

The changes in constituents for the MSCI Global Standard Indexes will take place as of the close of November 30, 2023.

Moreover, MSCI India Smallcap Index will also see inclusion of 42 stocks, while 19 stocks will be excluded from the index.

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