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MARKET EYE-NTPC's MSCI India weight to rise post share sale-Citi
February 7, 2013 / 9:28 AM / 5 years ago

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.

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