NTPC, PNB, BOB, Adani Enterprises: Stocks likely to see inflows on NSE index adjustments

A couple of NSE indices including Nifty, Nifty Bank and CPSE will see quarterly adjustments on December 30. As per Nuvama Alternative & Quantitative Research, NTPC, Punjab National Bank, IndusInd Bank Ltd and Federal Bank are some of the stocks likely to see healthy passive inflows. State Bank of India (SBI), HDFC Bank Ltd, Power Grid and Kotak Mahindra Bank Ltd are, on the other hand, some stocks likely to see outflows.

NTPC may see buying of 1.87 crore shares worth $74 million. PNB could see buying of 2.05 crore shares worth $25 million. IndusInd Bank, Federal Bank and Bank of Baroda may see inflows to the tune of $23 million, $18 million and $17 million, respectively. Nuvama expects Adani Enterprises to see $15 million inflows and ICICI Bank to attract $14 million in inflows.

SBI may see $57 million outflows. HDFC Bank ($47 million), Power Grid ($23 million), Kotak Mahindra Bank ($20 million) and Bharat Electronics Ltd ($19 million) may also see outflows. PSU stocks ONGC and Coal India may see $17 million and $16 million outflows, Nuvama said.

Among indices, NTPC (20 per cent from 18.4 per cent) and Cochin Shipyard Ltd (2 per cent from 1.7 per cent) would see weightage increase in the CPSE index. Power Grid, BEL, ONGC and Coal India may were weight decrease to the tune of 30-50 basis points.

In Nifty Bank, PNB's weight would increase 60 basis points to 2.5 per cent from 1.8 per cent. IndusInd Bank's weight may rise 60 basis points to 4.4 per cent from 3.8 per cent. Federal Bank, Bank of Baroda, Canara Bank and AU SFB may also see 30-50 basis points change.

In Nifty, Adani Enterprises weight would increase marginally by 3 basis points. HDFC Bank, ICICI Bank and HCL Technologies would also see insignificant changes. Tata Motors, M&M, Hindustan Unilever and ITC would see insignificant fall in weightages.