Bank of Baroda, CG Power & Industrial included in MSCI India index

Bank of Baroda and CG Power and Industrial have been included in the MSCI India index, said MSCI in a release.

On the other hand, Biocon sees exclusion from the index.

The changes will take place as of the close of February 28, 2023, the release said.

With over 50 years, MSCI is a leading provider of critical decision support tools and services for the global investment community.

To be eligible for inclusion in an MSCI index, a security's Foreign Inclusion Factor (FIF) must reach a certain threshold.

MSCI defines the Foreign Inclusion Factor (FIF) of a company's securities as the proportion of shares outstanding that are deemed to be available for purchase in the stock markets by international investors.

( With inputs from ANI )