Maruti Suzuki dropped from MSCI India index

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Maruti Suzuki dropped from MSCI India index
The MSCI (Morgan Stanley Capital International) India index is being reconstituted and will see the deletion of Maruti Suzuki with effect from February 28.

The deletion of Maruti Suzuki from the MSCI India index is pursuant to the February 2013 quarterly index review of the MSCI equity indices.

Maruti Suzuki India will be the only deletion from the MSCI India Index and there will be no addition to the index, MSCI said in a statement.

It said the changes in constituents of the MSCI India Index will take place at the close of February 28.

Reacting to the news of its deletion, Maruti shares tanked as much as 3.52 per cent from its previous closing price and saw an early low of Rs 1,481.30 on the BSE.

As part of the MSCI February Index review, changes have also been made in MSCI Global Standard, MSCI Global Small Cap and MSCI Micro Cap Indices, MSCI Global Value and Growth Indices and MSCI Frontier Markets indices.

Changes have also been made in MSCI Frontier Markets Small Cap Indices, MSCI Global Islamic and MSCI Global Islamic Small Cap Indices, MSCI Pan-Euro and MSCI Euro Indices, MSCI US Equity Indices, MSCI US REIT Index and MSCI China A Indices.

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