NTPC, Adani Enterprises, and PNB Among Leading Firms Set to Benefit from Nifty Index Restructuring
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Mumbai, Dec 27 (NationPress) The public sector powerhouse NTPC Ltd, the flagship of the Adani Group Adani Enterprises Ltd, and the state-owned Punjab National Bank Ltd are among seven companies anticipated to witness significant net passive inflows amounting to $187 million owing to the restructuring of the NSE indices, which will take effect on December 30, as reported by Nuvama Institutional Equities.
The state-owned NTPC is expected to attract an inflow of $74 million, while Punjab National Bank and IndusInd Bank are projected to receive $25 million and $23 million, respectively. Federal Bank Ltd is likely to see inflows of $18 million, and Bank of Baroda Ltd is set to gain $17 million.
The flagship of the Adani Group is anticipated to draw in $15 million, according to Nuvama. Stocks of the Adani Group surged by 4 to 5 percent on Thursday due to strong buying activity. Among these stocks, Adani Green Energy emerged as the top performer, rising by 4.91 percent to reach a high of Rs 1,081.80 per share on the BSE. The increase in Adani Group stocks occurred during a period when the Indian stock market's benchmark indices, Sensex and Nifty 50, were trading flat amidst lackluster trading conditions in global markets.
Per the Nuvama report, the leading private sector bank, ICICI Bank Ltd, is projected to experience an inflow of $14 million.
Cumulatively, these seven companies are expected to see a total inflow of $186 million, with adjustments scheduled for December 30, 2024.
Conversely, in the wake of the NSE restructuring, State Bank of India is projected to endure the largest outflow of $57 million, followed by HDFC Bank Ltd with $47 million. Power Grid Corp, Kotak Mahindra Bank Ltd, and Bharat Electronics Ltd are also poised to experience outflows as a result of the restructuring.
The Nifty Bank index is set to witness significant inflows for Punjab National Bank amounting to $25 million, along with IndusInd Bank Ltd at $23 million. HDFC Bank, State Bank of India, and Kotak Mahindra Bank are expected to face outflows within the Nifty Bank index.
Major state-owned enterprises like Power Grid, Bharat Electronics, ONGC, and Coal India Ltd are also anticipated to see outflows within the category of central public sector enterprises.
