The FTSE stock rejig, set to take effect on Dec. 23, 2024, will include two new additions— Bharti Hexacom Ltd. and Go Digit General Insurance Ltd., according to Nuvama Alternative & Quantitative Research.
Among the biggest inflows, major BFSI players are expected to lead the charge, with ICICI Bank Ltd., Kotak Mahindra Bank Ltd., and Bajaj Finance Ltd. seeing inflows of $310 million, $118 million, and $66 million, respectively.
On the other hand, the largest outflows will be seen from Adani Green Energy Ltd., Mahindra & Mahindra Ltd., and Shriram Finance Ltd., which are expected to face outflows of $48 million, $38 million, and $27 million, respectively.
Shares of Go Digit were trading 4.18% up at Rs 350.25 apiece, as compared to a 0.62% decline in the benchmark NSE Nifty 50 as of 10:13 a.m.
The stock has risen 14.04% on a year-to-date basis. Total traded volume so far in the day stood at 1.8 times its 30-day average. The relative strength index was at 54.11.
Out of seven analysts tracking the company, five maintain a 'buy' rating, one recommends a 'hold', and one suggests 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 9.1%.
Bharti Hexacom scrip saw a marginal increase of 0.92% in early trade, at Rs 1,462.80.
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