Shares of Supreme Industries, REC and Ashok Leyland jumped on Friday after the announcement that they along with five other firms will be added to the MSCI India Index.
The changes in constituents of the MSCI Global Standard Indexes will take place as of close of August 31, 2023, according to an announcement by index compiler MSCI on Thursday.
Ashok Leyland, Astral Ltd, Cummins India, HDFC Asset Management Company, IDFC First Bank, Power Finance Corporation, REC and Supreme Industries will be added to the MSCI India Index.
ACC would move out from the index, according to the update.
Shares of Supreme Industries climbed 16.25 per cent to reach its 52-week high of Rs 4,480 on the BSE.
The stock of REC jumped 6.48 per cent to its 52-week high of Rs 230.70.
Ashok Leyland gained 2.55 per cent to hit its one-year peak of Rs 191.
Shares of HDFC Asset Management Company gained 2.29 per cent, Cummins India (2.23 per cent), Power Finance Corporation (2 per dent), IDFC First Bank (1.65 per cent) and Astral Ltd (1.14 per cent).
The stock of ACC, however, declined by 0.15 per cent.
MSCI Global Standard Index is widely used by global fund houses for benchmarking global equities portfolios.