As many as four companies - Avenue Supermarts, Biocon, HDFC Standard Life Insurance Company and InterGlobe Aviation...

As many as four companies - Avenue Supermarts, Biocon, HDFC Standard Life Insurance Company and InterGlobe Aviation - will be added to the MSCI India Index with effect from June 1. The news triggered buying in most of these companies, with shares of Avenue Supermarts surging 6.5 per cent to Rs 1,516.80 on BSE.  InterGlobe soared 5 per cent to Rs 1,248.55 and Biocon went up 2.49 percent to Rs 650. The scrip of HDFC Standard Life, however, fell sharply by 8.14 percent to Rs 496.30. The changes in the constituents for MSCI India domestic index will take place as of the close of May 31, 2018, MSCI India announced yesterday. IDFC Bank, Power Finance Corporation, and Vakrangee will move out of the index, it said.

Changes in the constituents for the MSCI India domestic small-cap index were also announced, which will also take place as of the close of May 31. A total of 30 companies were added, while 15 will be deleted. IDFC Bank, Indian Bank, Power Finance Corporation, Vakrangee, Varun Beverages, among others were added in the MSCI India small-cap index. The 15 companies that will move out from the index include AstraZeneca Pharma India, Balrampur Chini Mills, Biocon.  MSCI is a leading provider of benchmark indices globally.