Zomato Ltd, DLF, MRF, Hindalco Industries, InterGlobe Aviation (IndiGo), Dr Reddy’s Labs and Paytm are also seen attracting up to $89 million in passive inflows each due to increased MSCI weightages.
According to insights from Nuvama Alternative & Quantitative Research, India could witness a substantial surge in Foreign Institutional Investor (FII) passive inflows
India s MSCI Emerging Markets index surged from 8% in June 2020 to 17.9% currently. With ongoing domestic institutional flows and steady FII participation, India may exceed 20% in the MSCI EM Index by 2024.
The expected inflows are to the tune of $591 million with PNB accounting for the lions share at $154 million followed by BHEL ($152 million), NMDC ($145 million) and Union Bank ($140 million), the Nuvama report said.