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MSCI's weighting action 'incorrect': HDFC

Reuters/Mumbai 16 May 12 | 04:21 PM
 Housing Development Finance Corporation Ltd
tradenow

BSE   30 Mar 17 | 04:01 PM

1512.50  -6.35 (-0.42%)

NSE   30 Mar 17 | 03:59 PM

1519.95  -2.1 (-0.14%)

Shares in Housing Development Finance Corporation fell 3.7% after its weighting reduced in MSCI's indices.

MSCI has reduced the weighting of HDFC in its indexes to accommodate new addition and deletions, as part of its semi-annual review of the composition across all its country indices.

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However, a HDFC spokesman objects to MSCI's action.

"MSCI may be considering foreign availability (of shares) in HDFC at 74% which is incorrect. It should be 100%. We are communicating this error to Morgan Stanley," a HDFC spokesman said.

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Sensex

Company Price Gain (%)
Adani Ports338.855.77
HDFC Bank1,463.752.51
Bharti Airtel350.651.67
GAIL (India)378.451.27
Reliance Inds.1,269.351.17

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