Shares of IndusInd Bank, Suzlon Energy, Persistent Systems, APL Apollo Tubes, One 97 Communications Ltd (Paytm), Polycab India and Tata Communications Ltd are among the seven stocks that will see inflows of up to $288 million each from passive funds, as they make their way into MSCI Global Standard Index on November 14.

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The global index services provider MSCI will announce the results of its semi-annual index review on Tuesday, November 14, 2023.

An analysis by JM Financial shows IndusInd Bank could see inflows worth $288 million if it were to be included in the MSCI Standard India index.

Quant analysts have been keeping a close eye on the lender's shareholding pattern, which was recently disclosed with its financial results. According to the data, the foreign headroom available stands at more than 15%, a strong indicator that the bank is likely to secure a spot in the MSCI index this time around.

IndusInd Bank will be followed by Persistent Systems with $228 million inflows and APL Apollo at $192 million.

Sulzon Energy, which may be included in the Association of Mutual Funds in India's (AMFI) midcap category soon, is expected to see $186 million in inflows if it gets included in the MSCI Standard index.

Sulzon has witnessed a remarkable rally throughout the year, making it a compelling candidate for inclusion in the MSCI review. The company's success and growth are expected to attract significant attention from investors.

Besides, two other stocks — Polycab India and Paytm — could see inflows worth $168 million and $150 million, respectively, on MSCI inclusion.

Two other potential MSCI inclusions, including Tata Communications and Macrotech Developers Ltd (Lodha), could also see inflows of $144 million and $138 million, respectively. Lodha might see borderline chances of getting included into the MSCI India Standard index, the brokerage said.

Meanwhile, AU Small Finance Bank, the only MSCI exclusion, could see $78 million in outflows, JM Financial estimated.

On Monday, shares of IndusInd Bank (0.37%), Sulzon Energy (1.17%), One 97 Communications Ltd (Paytm) (0.15%), and APL Apollo Tubes (1.37%) were trading with gains on the NSE, while those of Polycab fell 0.71%, Persistent Systems was down by 1.32%, and Tata Communications tumbled 0.42%.

(Edited by : Amrita)

First Published:Nov 13, 2023 9:55 AM IST