If I remember correctly, Morgan Stanley was one of the underwriters for the TCS IPO in India. I hate to sound suspicious but knowing the lack of ethics among investment bankers, one of the reasons TCS is in their Index is becuase they are the promoter of the stock. I don't time but if anyone has time to kill, can you post here if Morgan does or has done banking business with the all four additons made recently to their Index.
I am not sure whether INFY has any relationship to Morgan and that could be one of the reasons for why INFY is not a part of the index.
Frankly, I don't follow the Morgan index. Of course TCS is a great company, and if they come out with ADR, I will be buying them at the right time regardless of whether or not it stays in Morgan Index.