MSCI adds LIC, Coforge, Adani Green and Meesho to its flagship global index
In its November 2026 review MSCI added four Indian firms to its Global Standard Index and dropped PI Industries, with changes effective 30 November 2026.
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what happened
Moody's reports that MSCI's November 2026 review brings four Indian companies into the Global Standard Index: Life Insurance Corporation of India (LIC), Coforge, Adani Green Energy and Meesho. PI Industries is the only Indian name leaving the benchmark in this round. The updates take effect after the close on 30 November 2026, lifting the count of Indian constituents from 165 to 168.
India's share of the MSCI Emerging Markets Index is projected to rise from 12.9% to 13.1%. MSCI also raised the weightings of eleven current Indian holdings, among them Groww, Lenskart Solutions, Coal India and Paytm. Nuvama Wealth Management estimates that passive funds and ETFs will bring in roughly $2 billion.
why it matters
Index-tracking funds must buy the new members and sell the departures, so the rebalancing creates predictable flows around the closing bell. The small-cap index gains 11 names and loses 29, and Coforge exits that index now that it has moved up to the larger benchmark.
market impact
Indian equities: index inclusion brings passive buying, while the PI Industries removal brings passive selling
- LIC shares pressure up — expected passive inflows after joining the index
- PI Industries shares pressure down — removal from the benchmark forces passive funds to sell
instruments
sources
- MSCI Adds LIC, Coforge, Adani Green And Meesho To Global Standard Index — Moody's, 12 November 2026 at 11:01 UTC
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