NTPC's weightage in MSCI India to rise post share sale: Citi

Thu Feb 7, 2013 3:47pm IST

1 of 2. A worker installs an electric power cable on a pylon at a newly constructed power station in Jammu February 5, 2011.

Credit: Reuters/Mukesh Gupta

Related Topics

Stocks

   

Reuters Market Eye - NTPC's (NTPC.NS) 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 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 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.

(Reporting by Abhishek Vishnoi)

FILED UNDER:

Reuters Showcase

IS Claim

IS Claim

Islamic State says beheads second Japanese hostage.  Full Article 

Ukraine Crisis

Ukraine Crisis

Death toll mounts in Ukraine fighting after peace talks fail.  Full Article 

Fifth Title

Fifth Title

Djokovic reigns supreme at Australian Open.  Full Article 

Journalist Freed

Journalist Freed

Jailed Al Jazeera journalist Peter Greste leaves Egypt for Australia.  Full Article 

Reuters Poll

Reuters Poll

RBI seen holding rates steady on Tuesday, minority of analysts expect cut.  Full Article 

Doubles Title

Doubles Title

Hingis wins Australian Open mixed doubles title with Paes.  Full Article 

Houston's Daughter

Houston's Daughter

Bobbi Kristina Brown revived after found unresponsive in tub  Full Article 

Supply Glut

Supply Glut

Sugar mills seek govt help to dispose of supply surplus.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage