Adani Transmission, Hatsun Agro Product, and HDFC Life Insurance could be the biggest beneficiaries in fund inflows, at the next semi-annual FTSE index rebalancing scheduled for tomorrow, according to Edelweiss Alternative Research. In a note, Abhilash Pagaria of Edelweiss wrote that Adani Transmission could see inflows worth $116 million (about Rs 850 crore) though Hatsun Agro is probably to witness $110 million (about Rs 808 crore) in inflows. FTSE Russell, a worldwide provider of indices, rebalances its indices twice a year, altering weights of different constituents according to their efficiency more than the preceding months amongst different other parameters.
Stocks probably to see inflows
Adani Transmission: The Gautam Adani Group enterprise is anticipated to see inflows worth $116 million. Adani Transmission is not portion of FTSE All-World index or the India index. So far this week, Adani Transmission share price tag has soared 10% to now trade at Rs 1,971 per share.
HDFC Life Insurance: The stock could see inflows worth $55 million (about Rs 404 crore) on account of FTSE semi-annual rebalancing. The stock is portion of the FTSE All-World index with .01% weightage and .63% weightage in the India index. HDFC Life stock has jumped 2% this week to trade at Rs 749 per share.
Max Financial Services: Inflows worth $37 million could be seen in favour of Max Financial Services, according to Edelweiss Alternative Research. The stock has soared 2.4% so far this week.
Max Healthcare: Share price tag of Max Healthcare was up and operating this week but is down more than 2% today. Inflows worth $37 million are anticipated for the enterprise.
Hatsun Agro Product: The stock is anticipated to witness inflows worth $110 million, according to Edelweiss Alternative Research. Hatsun Agro is not a portion of the FTSE All-World index or the India index. Hatsun Agro share price tag has soared 10% this week.
Other stocks that may well witness inflows contain Laurus Labs ($36 million) Aarti Industries ($34 million) Carborundum Universal ($30 million) Gujarat Fluorochemicals ($22 million) Alkyl Amines Chemicals ($21 million) KPIT Technologies ($21 million) and Aster DM ($20 million).
Apart from the FTSE semi-annual rejig, analysts at Edelweiss Alternative Research also highlighted that the US-based WisdomTree India Earnings Index will see its annual reconstitution on Friday as effectively. India Oil, Vedanta, Jindal Steel & Power, and Infoedge are anticipated to be added to the fund. These stocks could see inflows worth $19.2 million to $3 million. Meanwhile, Reliance Industries, Bharat Petroleum, Hindustan Petroleum Corporation, Axis Bank, and ICICI Bank are anticipated to see an addition to their weights.
HDFC, Infosys. Tata Consultancy Services, Hindalco Industries, GAIL, and Grasim Industries could see a reduction in weightage, stated Edelweiss Alternative investigation.