Trent Ltd, Bharat Electronics Ltd (BEL), Canara Bank, JSW Energy and Macrotech Developers Ltd (Lodha) are among stocks that would be in focus on Friday morning due to the Semi-annual rejig in the NSE indices namely Nifty, Bank Nifty, Nifty Next 50 and Nifty CPSE, among others.
Divis Labs Ltd, LTIMindtree Ltd, NTPC Ltd, Mahindra & Mahindra Ltd (M&M) and ICICI Bank Ltd are a few stocks that may see passive outflows, data compiled by Nuvama Institutional Equities suggest.
On a cumulative basis, Trent is seen attracting $495 million inflows, while BEL is seen attracting $336 million inflows on Nifty50 inclusion. Nifty stocks such Cipla and HDFC Life may see insignificant inflows on increase in weights, while others such as Mahindra & Mahindra, Infosys Ltd, ICICI Bank Ltd, Reliance Industries Ltd, Adani Enterprises Ltd, HDFC Bank Ltd and Bharti Airtel Ltd, among others, may see passive outflows on weight reductions.
Divis Labs and LTIMindtree, which would be excluded from Nifty but join Nifty Next 50 index, will see cumulative outflows $200 million and $163 million. CPSE index stocks such as ONGC, Coal India, BEL, Oil India, NHPC, Cochin Shipyard, NBCC and SJVN may see insignificant inflows, while NTPC and Power Grid may see about $150 million in outflows.
Net net, Canara bank is seen attracting $92 million inflows, followed by JSW Energy ($54 million), Lodha ($50 million), NHPC ($50 million), BHEL ($47 million) and Union Bank ($32 million).
Net outflows are likely in the case of NTPC ($136 million), M&M ($116 million), ICICI Bank ($72 million), Colgate Palmolive ($60 million), HDFC Bank ($56 million), Kotak Mahindra bank ($55 million) and Infosys ($45 million).