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Last Updated : Aug 13, 2020 01:20 PM IST | Source: Moneycontrol.com

MSCI may reverse its decision on Bharti Airtel's weight; shares pare losses

MSCI cut Bharti Airtel's weight to 1.80 percent from 3.50 percent because of which, brokerage reports suggested, that there could be selling between $300-500 million in Bharti Airtel.

 
 
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Shares of Bharti Airtel fell over 4 percent but pared losses in intraday trade on BSE on August 13 after reports emerged that it was an error on part of MSCI when it reduced the weight of the company in its the MSCI India and MSCI EM indices by half.

MSCI cut Bharti Airtel's weight to 1.80 percent from 3.50 percent because of which, brokerage reports suggested, that there could be selling between $300-500 million in Bharti Airtel.

As per CNBC-TV18, a JPMorgan report on Bharti Airtel has said that the company's MSCI weight deduction is surprising and MSCI may have picked up incorrect info from the NSDL site.

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Bharti Airtel has already approved the FDI limit hike to 100 percent whereas MSCI assumed the limit at 49 percent.

It is likely that MSCI will give some clarification going forward and the weight reduction might not actually happen. MSCI decision can be reversed.

Shares of Bharti Airtel traded 2.05 percent down at Rs 537.30 at 13:05 hours on BSE.
First Published on Aug 13, 2020 01:20 pm
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