FTSE Rejig: Bharti Hexacom, Go Digit General Insurance Join Ranks
Among the biggest inflows, major BFSI players like ICICI Bank and Kotak Mahindra Bank are expected to lead the charge.
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.
Disclaimer: NDTV Profit is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
