IREDA, Cello, and Mamaearth may be added to the MSCI index, but Nykaa and Mankind must rally further.
IREDA: Inclusion or increase in stock weightage in global indices such as MSCI and FTSE results in inflows from index-tracking passive funds. Exclusion from these indices typically results in outflows. As a result, the announcements are widely followed. According to Nuvama Alternative & Quantitative Research, recently listed IREDA, Cello World, Honasa Consumer Products, and Signature…