Last Updated on Aug 25, 2022 by Aradhana Gotur

Reliance Industries might see inflows of up to $ 75 mn. when its weightage in the benchmark index S&P BSE Sensex rises from 11.8% currently to 12.5%, according to Edelweiss Alternative Research. The cumulative inflow into Reliance Industries in the Sensex and Nifty are over $ 245 mn. 

Meanwhile, companies in the technology and financial sectors such as Infosys, HDFC Bank, ICICI Bank, HDFC, and Tata Consultancy Services (TCS) may see their weightage reduced by 0.05-0.08%, resulting in $ 35 mn. in outflows. 

TCS will have a 9.9% weighting on the index, while Infosys will have a 10.4% weighting. The two tech stocks might witness outflows of $ 9 mn. and $ 8 mn. respectively, as per the broker firm. 

HDFC Bank and ICICI Bank’s revised weightage will be 9.9% and 7.8%, respectively. And their expected outflows of $ 8 mn. and $ 7 mn. 

HDFC’s weighting will drop by 0.06%, which is from 7.4% to 7.3%, with $ 6 mn. in outflows expected.

Edelweiss Alternative Research claimed that they were in constant contact with S&P Global for an ad hoc implementation of shareholding change rather than rolling it over to March 2022. 

The firm also suggested that Nifty Indices will implement the revised shareholding on their upcoming rebalance on 30 December 2021. They expect the influx to be over $ 170 mn.

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