MSCI will be announcing its Semi-Annual Index Review (SAIR) rejig on Friday, November 12, 2021. As per Edelweiss Alternative Research, rejig in the S&P BSE Sensex may see Wipro replacing Bajaj Auto in the Index. Also, the IT pack may be provided a higher weightage in the S&P Sensex index.
"With the price cut-off date for the S&P BSE Sensex Index behind us, we at Edelweiss Alternative Research continue to maintain our high conviction inclusion candidate for the S&P BSE Sensex Index as Wipro and exclusion candidate as Bajaj Auto. The official announcement will take place around mid-November and adjustment will take place on December 16," said the brokerage.
Similarly, the research states that stocks like Tata Power, SRF, Mphasis, Godrej Properties, Mind Tree, IRCTC and Zomato may be included in the index. Also, IPCA Labs and REC limited may see exclusion from the index.
As per Edelweiss Alternative Research early assessment, all the MSCI potential high conviction inclusion names hold a strong chance to move from the current midcap categorization to the large-cap categorization. While, Zomato will be for sure fresh entrant in the large-cap category, it said.
In respect of the mutual funds, Amfi will be coming up with the mutual fund stock categorization in the first week of 2022."We have pre-emptively analysed Mutual Fund Portfolio Reclassification, which will get announced in first week of Jan 2022 and the modified recategorization list, which active MF managers track, will be w.e.f. from Feb to Jun 2022," it added.