MARKET EYE-NTPC's MSCI India weight to rise post share sale-Citi
* NTPC's weight in MSCI India index would rise from 0.63 percent to 1.79 percent as the company's free float stock increases after its offer for sale, Citigroup said in a note, quoting MSCI. * The Indian government will sell 783.26 million shares, or 9.5 percent stake, in NTPC through a single-day auction, as part of its drive to raise 270 billion rupees ($5.1 billion) by selling shares in some state enterprises in the 2012/13 fiscal year. * Citigroup also adds that NTPC's weight would increase in FTSE and Nifty indexes as well in March and April/May respectively, which should lead to a lot of passive demand/flows in the stock. * The investment bank expects MSCI to implement changes at its quarterly rebalancing on Feb 28. (email@example.com /; firstname.lastname@example.org)
- Tweet this
- Share this
- Digg this
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
Trending On Reuters
India's largest carmaker Maruti Suzuki India Ltd posted a smaller-than-expected rise in profit for the third quarter, hit by one-off items including a jump in advertising costs, a higher tax rate and lower income from investments. Full Article | Full coverage