FTSE Global Equity Index rebalances positive changes for Tech Mahindra, Mindtree, Bharti Infratel, Axis Bank, Dabur and negative changes for Tata Power, PNB
- Tech Mahindra moved to large-cap Index from mid-cap Index.
- Raises Mindtree’s investment weightage to 81% from 68%.
- Raises Bharti Infra’s investment weightage to 11% from 9%.
- Raises Axis Bank’s investment weightage to 62% from 49%.
- Reliance Power, Tata Power moved to mid-cap Index from large-cap Index.
- PNB, PFC moved to mid-cap Index from large-cap Index.
- United Spirits, Dabur moved to large-cap Index from mid-cap Index.
The changes will be effective after the close of business on March 21, 2014 (i.e. March 24, 2014), reports added.
An increase in investability weightage of a stock in global benchmark indices such as FTSE, prompts buying from passive trackers of the FTSE indices.
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