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 inflows between $2 million and $14 million. Some of the All-Cap index inclusion candidates are IIFL Wealth, Devyani International and UTI AMC.

Stocks that could migrate from FTSE All-Cap to FTSE All-World

	Estimated flows ($ mn)
Tata Elxsi	52
Tube Investments	37
Deepak Nitrite	37
Indian Hotels	35
Atul	34
Dixon Tech	33
APL Apollo	30
Max Healthcare	27
Supreme Industries	25
Relaxo Footwear	20

Source: IIFL Alternative Research