Tata Elxsi, Tube Investments seen gaining from FTSE indices rejig

Tata Elxsi, Tube Investments and Deepak Nitrite are among a dozen stocks seen benefiting from the semi-annual rebalancing of FTSE India indices.

According to an analysis done by IIFL Alternative Research, 15 companies are set to migrate from FTSE All-Cap index to FTSE All-World. This will result in buying of between $17 million and $52 million by exchange traded funds (ETFs) tracking these indices.

The changes are likely to be announced on February 18 and the adjustments will take place on March 17. Besides, three dozen stocks could get added to the FTSE All-Cap index, which will result in passive