MSCI Rejig: Coromandel, GMR Airports added to Standard index; Paytm fails to make the cut

Murugappa Group's Coromandel Ltd., and pan-India airports operator GMR Airports Ltd. will be included in the MSCI India Index, which is part of the MSCI Global Standard Index by the end of this month, the global index provider said in a statement in the early hours of Wednesday, May 14.

Auto components manufacturer Sona BLW Precision Forgings Ltd. has been excluded from the MSCI Standard Index.

However, One97 Communications, parent company of the payments aggregator Paytm, has not been included in the MSCI indices. Analysts had earlier predicted that the stock could return to the MSCI index, having being dropped in May last year.

The other new age name, that was touted to enter the MSCI index but has failed to make the cut, is FSN E-commerce Ventures, parent company of the beauty and fashion e-tailer, Nykaa.

Besides these changes, there are also 12 additions to the MSCI India Domestic Smallcap Index, while 21 stocks have been removed.

All of these changes will take place as on the closing of trade on May 30, 2025, MSCI said.

According to a note from Nuvama Alternative & Quantitative Research, Coromandel , on inclusion in the MSCI Global Standard Index, is likely to see inflows worth $249 million.

Some of the inclusions in the Smallcap index are names like Godrej Agrovet, Hexaware Technologies, Premier Energies, while exclusions include Aarti Drugs, Prince Pipes, Orchid Pharma among other names.

Sona BLW, which has been dropped from the Standard index, will now be part of the Smallcap index.

Shares of Murugappa Group's Coromandel have risen 10% so far in the last one month, and are up 25% so far in 2025. Over the last five years, the stock has nearly quadrupled in value, having gained 283% during this period.