MSCI may axe India’s debt-laden firms

India’s debt-burdened companies could get kicked out of MSCI Inc’s benchmark index later this week. Highly indebted companies, including Vodafone Idea Ltd, Indiabulls Housing Finance Ltd and Glenmark Pharmaceuticals Ltd, were likely to be removed from the MSCI India Index, according to brokers. Most of these companies have seen a sharp erosion in their market values in the wake of the year-long crisis in India’s credit market. ICICI Prudential Life Insurance Co and Siemens Ltd were companies likely to be added to MSCI’s indexes, according to Morgan Stanley and Edelweiss.