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Passive flow boost for RIL
Reliance Industries is expected to see massive inflows from exchange-traded funds (ETFs) in December. This is because its weightage in popular indices such as Nifty, Sensex, and MSCI India will increase after its partly-paid shares get converted into fully-paid shares next month. The second and final call of Rs 628.5 for its rights issue is due in November. After that, the partly-paid shares will cease to exist. According to Sriram Velayudhan, vice-president – alternative research, IIFL-Institutional Equities says the inflows into the stock on account of increase in weightage are estimated at $425 million (about Rs
