FTSE rejig: These stocks are likely to benefit from FTSE rejig

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Prior to that, depositories CDSL and NSDL had increased foreign ownership limits for all listed companies to their sectoral limits.

Synopsis

Last month, index provider MSCI had said it would tweak foreign ownership limits for Indian stocks in its global indexes on November 27, a move which was estimated to have led passive flows of $2.5 billion into the country.

India is likely to see $700 million to $900 million of overseas flows coming into the equity market on Friday as part of index provider FTSE’s Global Equity Index Series (GEIS) rebalancing. Stocks such as L&T, Asian Paints, TCS and Tata Steel, among others, could witness flows on account of the rebalancing — the second tranche with the first one in September. India is likely to see the maximum inflow on account of this adjustment among Asia

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