“Nuvama Alternative & Quantitative Research estimates that the inclusion of Federal Bank, MCX, National Aluminium, and Indian Bank in the MSCI Global Standard Index will result in potential inflows ranging from $209 million to $491 million for these stocks. Federal Bank is projected to receive the highest inflow at $491 million, with these index changes becoming effective by the close of May 29, 2026.”

Nuvama Analysis’s track record: 4 graded calls · 95% CI 15–85%