Cupid, Avalon, Pine Labs, ACME Solar, Groww, Belrise: FTSE rebalancing, inflow preview

Cupid Ltd, Avalon Technologies Ltd, Pine Labs Ltd, Billionbrains Garage Ventures Ltd (Groww) and Belrise Industries Ltd were among stocks that were buzzing on Friday, ahead of FTSE September rebalancing, amid expectations of either inclusion or weight addition.

Cupid could see $52 million passive inflows if included in FSTE All Cap index, Nuvama Institutional Equities said. Urban Company, Pine Labs and Anthem Biosciences Ltd are seen attracting $32-38 million inflows, if added to the index. The probable list by Nuvama Institutional Equities named ACME Solar, Avalon Technologies Ltd, SKF India, Emcure Pharma, Rubuicon Research and Apollo Micro Systems Ltd among likely additions to the FTSE All Cap index.

Stocks such as Meesho, Lenskart, Infosys, Groww and Bharti Airtel are expected to see increase in weights, which could result in $58.81 million passive inflows, as per Nuvama.

ICICI Prudential AMC, Adani Enterprises, Belrise Industries, IndusInd Bank, Cochin Shipyard and JSW Infra are other stocks likely to see weight rise.

Whirlpool of India, Bata India and Relaxo Footwears are likely to see exclusion from FSTE All World index but are expected to see insignificant outflows.  Route Mobile, Rajesh Exports and Orient Cement may be excluded from All Cap index, Nuvama suggested.

Meanwhile, Biocon, Wipro, Aadhar Housing Finance, Star Health, Metro Brands and IndiaMART are expected to see cut in weights due to FTSE rebalancing.