A note by Nuvama Research has listed out expected inflows into possible inclusions to the MSCI Global Standard Index at the next rebalancing review in August.
The note mentions six stocks - Vodafone Idea, Prestige Estates, Oberoi Realty, Schaeffler India, Dixon Tech and Uno Minda - could cumulatively see inflows worth $1.18 billion once the index rejig takes place by end of August. Out of this, Dixon Tech and Voda Idea are seen as the two biggest recipients of inflows, projected to garner $274 million and $254 million respectively.
These are projections by Nuvama Research based on stocks that have made the cut, and they may or may not be part of the actual review by MSCI. The announcement is expected on August 13, and adjustment of inflow is likely to be completed by August 30.
The note also projects that weightage of HDFC Bank, Indus Tower and Mphasis may go up depending of availability of headroom for foreign shareholding. The note said shareholding pattern for HDFC Bank is expected to be released by July 5, which will decide the headroom for foreign investors to increase stake. In case there is scope for foreign shareholding, analysts at Nuvama are projecting further upside in the share price of HDFC Bank.
Currently, Foreign Portfolio Investors (FPIs) category I and II hold 47.81 percent stake, and other foreign funds hold close to 5 percent.
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