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FTSE All World Index Rejig Today: These Indian Stocks Are Likely To Benefit


As the FTSE All World Index is set to see rejig today, Edelweiss Alternate Research estimates that Indian equities would register inflows to the tune of $800-900 million. The stocks to be included in the FTSE All World Index are Apollo Hospitals Ltd., Honeywell Automation Ltd., Mindtree Ltd and partly paid shares of Reliance Industries Ltd. And the only deletion from the index will be Future Retail.

FTSE All World Index Rejig Today: These Indian Stocks Are Likely To Benefit

"As per our best understanding and past precedence, we believe FTSE benchmarked fund managers will buy RIL Partly Paid shares as part of the rebalance, though we await more clarity on the treatment," said Edelweiss in a note. Individually, partly paid shares of RIL are expected to see inflows of $165 million.

Indian Stocks to be included in the FTSE All World Index both largecap and midcap

Stocks Expected inflow ($, million)
Apollo Hospitals 79
Honeywell Automation 40
Adani Total Gas 38
Hindustan Aeronautics 36
Astral Poly 33
Varun Beverages 23
Mindtree 20
Reliance Industries Partly Paid shares 165

Future Retail i.e. the only stock to be excluded from the index will see outflows amounting to $7.7 million, with about 74 lakh shares expected to be sold.

Furthermore, as per the Edelweiss note, Nifty index constituents expected to see foreign fund inflow are Bharti Airtel Ltd., Larsen & Toubro Ltd., Tata Consultancy Services Ltd. and Asian Paints Ltd., among others.

And among the small cap stocks expected to see inflow are stocks like IndiaMart InterMesh Ltd., Tata Chemicals Ltd., Indian Energy Exchange Ltd. etc. Also, CreditAccess Grameen Ltd., Westlife Development Lt Ltd. and Zydus Wellness Ltd. are likely to register inflows.

Indian indices after losing for 5-straight days on rising bond yield in the US and increasing coronavirus cases in the country is trading flat in the noon deal in Friday's trade.

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