Jio Financial, Vedanta, Zomato, HAL, PFC shares to see inflows on rise in MSCI weights

Shares of Jio Financial Services Ltd, Zomato Ltd, Hindustan Aeronautics Ltd, Vedanta Ltd, PFC, REL and Colgate-Palmolive Ltd will be in focus on Wednesday morning after increase in weightages in the MSCI Global Standard index.

As per initial Alternative & Quantitative Research calculations, Zomato could attract $72 million in passive inflows. It would be followed by HAL that may attract $47 million inflows. Jio Financial shares are expected to attract $41 million passive inflows. Vedanta shares could see $32 million inflows, as per Nuvama. PFC, REC and Colgate-Palmolive may see inflows of $30 million, $25 million and $17 million respectively.

The adjustments are scheduled for November 30. Nuvama said it sees a total $1.5 billion in passive inflows for India. Overall, the latest rejig would mean India's total stock count will rise to 131 and that its weights are set to move close to 16.3 per cent compared to the current 15.9 per cent.

"India's representation in the EM index would reach an all-time high, marking a significant increase over the past three years, almost doubling its weight," Nuvama said.

Nuvama said The small-cap index would undergo notable changes, in-line with Nuvama Alternative & Quantitative Research expectations.

Meanwhile, nine stocks including IndusInd Bank Ltd, One 97 Communications Ltd (Paytm), Persistent Systems Ltd, Suzlon Energy Ltd and Tata Communications Ltd are seen attracting up to $355 million in passive inflows, as the index aggregator MSCI included these stocks in its Global Standard index.

Also read: Stock recommendations for November 15 2023: Tata Power, BHEL, Manappuram Finance, Union Bank and Oil India

Also read: NMDC, Nalco, Grasim: Trading strategies for these buzzing stocks