The MSCI India Index will see four additions and three deletions following MSCI’s August 2026 Index Review, with the changes taking effect after the close of trading on August 31. The revised composition will apply from September 1, while passive fund flows linked to the changes are estimated at around $1.5 billion by Reuters.
Laurus Labs, Lenskart Solutions, Adani Energy Solutions and Billionbrains Garage Ventures, the parent company of Groww, have been added to the benchmark. Balkrishna Industries, SBI Cards and Payment Services, and Astral will be removed. Lenskart and Billionbrains Garage Ventures are among the recent listings to enter the index, having debuted in November 2025.
MSCI India Index: Expected Fund Flows
According to estimates from Nuvama Alternative & Quantitative Research, Laurus Labs could receive about $598 million of passive buying, followed by Lenskart Solutions at $352 million, Adani Energy Solutions at $310 million and Billionbrains Garage Ventures at $256 million. Together, the four additions could attract around $1.516 billion.
MSCI is also increasing the weights of seven stocks. Eternal could see the largest estimated inflow at $674 million, followed by Adani Enterprises at $202 million, Adani Ports at $77 million, JSW Energy at $34 million, Adani Power at $28 million, GMR Airports at $22 million and Swiggy at $13 million. The combined estimated inflow from these weight increases is $1.050 billion, taking the total estimated inflow across additions and weight increases to $2.566 billion.
On the other side, the three deletions could result in estimated passive outflows of $169 million from Balkrishna Industries, $143 million from SBI Cards and $138 million from Astral. MSCI is also reducing the weights of Reliance Industries, Jio Financial Services, Indian Hotels, Aditya Birla Capital and Colgate, with estimated outflows of $523 million, $61 million, $32 million, $21 million and $16 million, respectively. Total estimated outflows from deletions and weight reductions stand at about $1.103 billion.
The MSCI India Index will have 166 constituents, compared with 165 currently, while India’s index weight is expected to rise marginally to 11.9% from 11.8%. The index covers the large- and mid-cap segments and approximately 85% of India’s listed equity universe.
The changes are scheduled for implementation at the August 31 close. The next regular MSCI index review is due to be announced on November 11, with any changes taking effect from December 1.
