Vishal Mega Mart, Hyundai Motor, Waaree Energies and Swiggy slated to join FTSE Russell global equity indices on June 20, along with five other stocks.
On October 9, the RBI has maintained the status quo on the policy rate and changed the policy stance to ‘Neutral’ from ‘Withdrawal of Accommodation’ during the announcement of October monetary policy.
Indian bonds will be included in the $4.7 trillion-valued FTSE's EM Global Index after being on the watch list for the last three years.
FTSE Russell will on Oct. 8 announce any inclusions into benchmarks including its World Government Bond Index, with a market value of $29 trillion.
FTSE Russell’s conversations with the Securities & Exchange Board of India are regarding account opening processes for international investors.
Currently, two bond index providers have added Indian bonds in global bond index, with JP Morgan’s inclusion having got completed last month and Bloomberg’s index inclusion slated to happen in 2025.
FTSE Russell said it has reversed the decision to drop JFS from its indices from August 22, as reported earlier in the day.
The date of listing of the demerged entity is yet to be announced.
FTSE Russell said it has considered client feedback on the potential impact on the company’s foreign headroom if the shares in issue and free-float update are implemented on a one-off basis
"Adani index constituents within the FTSE Russell indices will continue to remain eligible in accordance with the underlying index methodologies," it said in a notice published on its website.
Markets will now look forward to the monetary policy committee outcome today and an index review by JPMorgan Chase in coming days
India’s bond market is the largest in the emerging world that’s not already included in global indexes.
FTSE Russell will announce the results of its debt index review on September 29 after close of US markets. India's bonds are also under review for inclusion by JP Morgan Chase & Co
Xiaomi will be added to FTSE GEIS in two tranches, with 50% added effective from the open on June 7, and 50% added from the open on June 21, FTSE said in a statement.
The changes take effect from March 12, FTSE Russell said in a statement, citing the order. It added that the deletions were subject to further guidance from the US Office of Foreign Assets Control.
In a statement sent by a spokesman for owner London Stock Exchange Group, FTSE Russell said it would drop shares in companies such as Hangzhou Hikvision, China Railway Construction Corp, and China Spacesat.
Inclusion in the World Government Bond index, which could begin next October if approved, means CGBs will be a must-have asset for investment giants such as pension funds desperate for good returns as the global bond market is battered by the virus pandemic.
The FTSE SBI Bond Index Series "demonstrates SBI's commitment to play befitting leadership role" in development of India's bond market, State Bank of India (SBI) said in a statement.
The index provider FTSE Russell will also add UPL, LIC Housing Finance and Piramal Enterprises to its large cap index. These changes will be effective from March 20, 2017.