Adani Enterprises, Varun Beverages, Wipro, RIL shares to see inflows on FTSE rejig; Infosys, Zomato to see outflows

Shares of four Adani group companies including Adani Enterprises, Adani Transmission, Adani Green Energy and Adani Ports & SEZ, along with Reliance Industries (RIL), Wipro and Bajaj Finance would be among stocks that would see inflows due to FTSE rejig.

The adjustment will take place on Friday and would be effective from June 19, Monday. As per a note by Nuvama Institutional Equities, India could be a net inflow of $150-200 million.

As per the report, Gautam Adani-led Adani Enterprises could see $71 million in inflows. It would be followed by Reliance Industries ($68 million), Wipro ($32 million), Punjab National Bank ($21 million) and Bajaj Finance ($20 million).

Adani Transmission is seen attracting $19 million inflows while two other group stocks namely Adani Green Energy ($8 million) and Adani Ports ($7 million) are also seen generating passive inflows. Varun Beverages, Global Health, Bharat Electronics, Godrej Properties and Solar Industries are other companies likely to see passive inflows due to FTSE rejig.

On the flips side, many IT stocks are expected to see outflows. Infosys shares may see $34 million in outflows. It would followed by HCL Technologies ($15 million) and TCS ($8 million). Equitas SFB ($13 million), Hindustan Unilever ($5 million), Zomato ($4 million), Asian Paints ($3 million) will be among other stocks that are likely to see outflows.   

Axis Bank, ACC and Jindal Stainless may also see outflows, as per Nuvama.

Meanwhile, Sensex rejig scheduled for today will also influence a few stocks such as the HDFC twins, ITC, Larsen & Toubro, TCS, Infosys and Reliance Industries. But the extent of the impact would be marginal. 

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