NTPC, ITC, BEL, L&T, RIL, Cochin Shipyard, NBCC: Nifty, CPSE, Nifty Bank rejigs on June 27; here's likely impact

A host of stocks will be in action on Thursday, June 27, as a couple of NSE indices including Nifty, CPSE index and Nifty Bank see adjustments following the recent quarterly rejig. there is no significant volume impact except few names. Shares such as Kotak Mahindra Bank Ltd, NTPC Ltd , ITC Ltd and Bharti Airtel Ltd are seen attracting net passive inflows while others such as HDFC Bank Ltd, Bharat Electronics Ltd, Larsen & Toubro Ltd and Reliance Industries are expected to see net passive outflows.   

Kotak Mahindra Bank see a cumulative passive inflow of $62 million, followed by NTPC ($62 million), ITC ($36 million), and Bharti Airtel Ltd ($36 million), as per Abhilash Pagaria Nuvama Alternative & Quantitative Research. 

On the flip side, HDFC Bank may see $77 million outflows, Bharat Electronics ($45 million), L&T ($25 million and RIL ($14 million). 

In the CPSE index, BEL, Coal India Ltd, ONGC Ltd, NHPC Ltd, Oil India, Power Grid, Cochin Shipyard, NBCC, SJVN and NLC India will see some outflows due to fall in weights, as per the brokerage. NTPC will be the only index constituent to see passive inflows.  

In the case of Nifty Bank, Kotak Mahindra Bank, State Bank of India, ICICI Bank Ltd, HDFC Bank Ltd and IndusInd Bank could see increased passive inflows on higher weightages. Bank of Baroda, AU Bank, Punjab National Bank, IDFC First Bank, Bandhan Bank and Federal Bank could see insignificant outflows on decline in weights, as per Nuvama.