London-based FTSE Russell announced on Friday changes in the investability weight in Eternal Ltd., formerly Zomato. This follows a reduction in the foreign ownership limit from 100% to 49.5%. The adjustment will be effective from May 27. The stock is part of four indices: FTSE All-World Index, FTSE MPF All-World Index, FTSE Global Large Cap Index, and FTSE Emerging Index.
Unlike headroom-related reductions, a direct cut may lead to a full investability weight reduction in a single step during this interim event. IIFL Capital Services expects outflows of $380 million or Rs 3,235 crore from Eternal stock. Besides, US-based MSCI’s weight change during the May review can lead to $460 million or Rs 3,917 crore outflows from Eternal, the brokerage estimates.
#eternal #stockmarketnews #zomato
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