MSCI Inc, formerly Morgan Stanley Capital International, in its Global Standard Index added 4 Indian stocks while removing 5. Index complication by New-York based MSCI is considered one of the biggest in the world and maintains its benchmark based on the weighted market capital of over 1,600 company stocks around the world, representing a broad cross-section of global markets.

With effect from June 1, the new Indian additions to its index are:

1. Avenue Supermarts
2. InterGlobe Aviation
3. Pidilite Industries
4. Power Grid Corp. of India

The 5 deletions would be:

1. ACC
2. IDFC Bank
3. Power Finance Corp
4. Tata Motors DVR
5. Vakrangee

It has also made changes to its MSCI India Index, where MSCI will add 27 shares while deleting 12.

Additions will be:

1. Capital First
2. CCL Products (India)
3. City Union Bank
4. First Source Solutions
5. Graphite India
6. HEG
7. IDFC Bank
8. IFB Industries
9. Indian Bank
10. IEX
11. Indraprastha Gas
12. JSW Energy
13. KEI Industries
14. KNR Constructions
15. Magma Fincorp
16. Manpasand Beverages
17. NBCC (India)
18. Phillips Carbon Black
19. The Phoenix Mills
20. Power Finance Corp
21. Sonata Software
22. South Indian Bank
23. Team Lease Services
24. V-Mart Retail
25. Vakrangee
26. Varun Beverages
27. Venky's

The deletions include:

1. Advanced Enzymes Technologies
2. Balrampur Chini Mills
3. Biocon
4. Divi's Labs
5. Housing Development Infrastructure
6. Marksans Pharma
7. Mcleod Russel India
8. Narayana Hrudayalaya
9. Navkar Corporation
10. PTC India Financial Services
11. Sequent Scientific
12. Siti Networks

MSCI will also add 234 domestically listed large-cap Chinese companies to its benchmark from June 1. This is expected to open the doors to more global investment for China.

Chinese companies were denied inclusion for three straight years by MSCI as their financial markets are largely controlled by the government. It was approved last June after improvements were made for global asset managers to gain market access by allowing foreigners to buy shares listed on the Shenzhen stock exchange.

The future could see Chinese mid-cap stocks being listed on MSCI.