IndiGo, Max Healthcare Institute set for $1 billion passive bonanza

Airline operator InterGlobe Aviation (IndiGo) and hospital chain Max Healthcare Institute are expected to see cumulative inflows of close to $1 billion (₹8,286 crore) on account of their addition to the blue-chip Nifty 50 index, which is tracked by exchange-traded funds (ETFs) with assets of over ₹3 trillion.   Meanwhile, they will offload shares worth around ₹2,500 crore and ₹2,000 crore from two-wheeler major Hero MotoCorp and IndusInd Bank on account of their removal from the 50-stock index, according to a Nuvama Alter­native & Quantitative Research. 

 

NSE Indices has announced four and 13 changes, respe­ctively, to the other widely tracked indices Nifty Next 50 index and Nifty Midcap 150. Solar Industries, Siemens Energy India, Mazagon Dock Shipbuilders and Hindustan Zinc will see inflows ranging between ₹550 crore and ₹236 crore on account of the inclusion to the Next 50 index.  ITC Hotels, Dabur India, Godfrey Phillips and Procter & Gamble Hygiene and Health­care are the key companies that will see passive inflows thanks to their inclusion in the Midcap 150 index. 

 

Gland Pharma, Emami and Motherson Sumi Wiring could see some selling pressure due to their deletion. The changes — part of the semi-annual rebala­ncing — were announced late Friday and will become effective from September 30.  The adjustment date for indices tracking NSE  indices will be September 29.