 "Boost for Airtel as MSCI mulls greater weighting for stock in Feb review")
Global index provider MSCI on Thursday said it will take a decision on increasing the weightage of Bharti Airtel at upcoming index review in February.
The move follows increase in foreign investment limit in the telecom major from 49 per cent to 100 per cent.
“The proforma foreign ownership limit and upward movement of the adjustment factor due to foreign room will be implemented as part of the upcoming February 2021 Quarterly Index Review (QIR). The proforma foreign inclusion factor will be announced along with the scheduled February 2021 QIR announcement, on February 9. All changes will be implemented as of the close of February 26 (effective March 1),” the index provider said in an announcement.
Analysts believe increase in weightage in MSCI’s global indices will trigger buying worth $700 million (Rs 5,100 crore) in Bharti Airtel. Shares of the company closed at Rs 579, up 0.2 per cent on Thursday.
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