South Korean battery materials company EcoPro, the red-hot stock in the nation’s secondary tech-laden Kosdaq, is highly likely to be included in the MSCI Korea Index in August, Samsung Securities wrote in a recent report published Friday.

EcoPro is a holdings firm with units EcoPro BM and EcoPro HN under its wings. Running high on the recent electric vehicle boom, the cathode materials maker saw its shares soar to a record high of 1.14 million ($890.28) Wednesday, almost a 10-fold jump from 110,000 won on Jan. 2.

"EcoPro is likely to make the MSCI inclusion as its market value and free float market cap exceeds the inclusion standards," analyst Kim Dong-young from Samsung Securities viewed, explaining the August inclusion is likely to be made based on the stock price fluctuations observed between July 18-20.

The MSCI inclusion can open new opportunities for included firms as global passive funds, which track market indices, are likely to buy the newly added stocks. The index provider makes the adjustments four times a year -- in February, May, August and November.

EcoPro had failed to make the list in May due to short-term fluctuations in stock price as its shares experienced a rapid price surge earlier this year, backed by a retail investor frenzy.

EcoPro’s market cap stands at 28.17 trillion won as of Friday, surpassing that of big names on the nation’s main bourse Kospi, such as Hyundai Mobis (22.72 trillion won), Kakao (22.43 trillion won), Celltrion (22.28 trillion won) and LG Electronics (19.67 trillion won). It has the second largest market cap among Kosdaq-listed firms, following its affiliate EcoPro BM at 35.94 trillion won.

Another securities firm Daol Investment & Securities offered a similar projection.

“Though EcoPro failed to join the index due to an extreme price surge, it is likely to be included this time as the period for August screening does not include when the shares of EcoPro experienced a sudden surge,” Daol analyst Nam Ah-ran said. “With the inclusion of EcoPro, the weight of the (battery) sector on the MSCI Korea Index will increase.”