Nifty 50, other indices rejig tomorrow: Shriram Finance, HDFC Bank, Jio Finance, Adani Power to see highest inflows
Shriram Finance, HDFC Bank, Jio Financial Services, NTPC, Adani Power, and some others, according to Nuvama Alternative & Quantitative Research. Shriram Finance has been added to the Nifty 50 index and will receive the maximum inflows of up to $188 million. The counter will replace UPL which is expected to see an outflow of $95 million.
Read here: NSE indices rejig: Shriram Finance to see $200 million inflows, Jio Finance to get $89 million on reshuffle in indices Among other stocks, HDFC Bank is likely to witness inflows of up to $94 million, followed by Jio Financial Services and NTPC with inflows of $80 million and $66 million, respectively. Adani Power and PFC are likely to receive $45 million worth inflows each, as per estimates. After the rejig in the Nifty constituents, outflows are expected to be seen in State Bank of India (SBI), UPL, ICICI Bank, ONGC, PI Industries, Coal India, Reliance Industries, Kotak Mahindra Bank, Bharat Electronics and Infosys.
SBI is estimated to record the maximum outflow of $103 million, according to Nuvama. Infosys may see the least outflow worth $16 million. The benchmark Nifty 50 index will also see changes in weightage of the constituents.
With these changes, the weightage of Mahindra and Mahindra (M&M) will increase to 1.8% from 1.7% and that of Bharti Airtel will rise to 3.3% from 3.2%. Also Read: Shriram Finance to be included in Nifty50, UPL excluded — check full list here On the contrary, Reliance Industries, HDFC Bank and ICICI Bank will see a minor decline in their respective weightages in the index. In the Nifty Bank index, key Inflows are expected in HDFC Bank, IndusInd Bank, Bank of Baroda, and IDFC First Bank due to a rise in their weights, while key outflows are seen in
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