FTSE rejig: India likely to benefit from index changes, may see $250 million worth inflows
India expected to see net inflow of $250m after FTSE index restructuring on June 16. Several Indian companies, including Medanta Global Health and Piramal Pharma, are expected to benefit. Wipro is also projected to receive inflows of $20.9m.
PremiumAfter the FTSE index restructuring, which is set to take place on June 16, India is expected to see a net inflow of $250 million. Several Indian companies are anticipated to benefit from the index's revamping, said CNBC TV18 in a news report.
Medanta Global Health and Piramal Pharma are expected to get significant inflows, according to projections by IIFL. Piramal Pharma is anticipated to see inflows of $11.1 million, compared to $8.1 million for Medanta Global Health. Their inclusion in the FTSE All Cap Index is responsible for this gain.
Another Indian company, Wipro, is probably going to see a jump in index weight. It is therefore projected that it will receive inflows totaling $20.9 million.
Several other stocks are also anticipated to draw investment. PNB, Varun Beverages, Adani Enterprises, Adani Transmission, Godrej Properties, ONGC, and Solar Industries are a few among these.
After rejig, FTSE intends to proceed with index review changes for Adani Group stocks
During its semi-annual index review in February, FTSE Russell added 10 Indian stocks to its Global Largecap index.
ACC, Kotak Mahindra Bank, Canara Bank, IDBI Bank, YES Bank, Union Bank of India, Indian Hotels, Jindal Steel & Power, Shriram Finance, Trent, and Tube Investments have been added to the largecap index.
Biocon, Godrej Properties, Jubilant Foodworks, One 97 communications, Piramal Enterprises, Sona BLW Precision Forgings have been excluded for the largecap list.
FTSE Global Equity Index rejig: IDBI Bank, ACC, others added to largecap index
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