FTSE Russell won't be including HDFC Bank Ltd., Kotak Mahindra Bank Ltd. and IndusInd Bank Ltd. to its indices as they fail to meet minimum foreign headroom requirement.
Shares of the private banks gained through the week on expectations of inflows from inclusion in the FTSE world indices as part of its semi-annual review. So far this week, HDFC Bank is up 2.6%, while Kotak Mahindra Bank and IndusInd Bank have gained up to 6% and 18%, respectively.
Following the increased foreign investment limits for publicly listed companies in India, FTSE Russell, an index compiler that's a unit of London Stock Exchange Group Plc., had decided to increase the weight of Indian constituents in its global indices.
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